The ability to be flexible and reactionary appeals to many would-be investors. They like the idea of identifying an opportunity and seizing it with gusto, certain it will pay handsomely. I agree there are advantages to being quick on your feet when locking down an opportunity, but this sort of transaction should trigger a moment of self-assessment. When making the choice on whether to purchase, ask yourself, “Am I a speculator or opportunist,” because the differences between the two are dramatic with expensive…