(basically being Certified), the selected contractor is basically 'winging it,' and you're probably taking a gamble. 

If you are a cash heavy investor, then it might be alright, but you are gambling on appreciation and that is something that you can not know for sure. 

In my mind $8k is more money than I'm willing to gamble with and the course felt like too much of a gamble (let's put it this way..

With all the competition from DC, MD, PA, NY, DE they are doomed until they find a new business model not involving gambling. 

Why gamble with your money?

I'm impressed that you're not willing to gamble on getting into  a bad situation due to low reserves.

If you are willing to gamble your earnest money, then that is fine.  

.- As for crypto, it's just a speculatory investment for those who like to gamble. 

You are doing a gamble play that value add and rent increases will eventually get the asset cash flowing.If it doesn't you just are trapped in a tax write off property.Some investors love speculating but I am not one of them.

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