The problem with the bought hash power is the final calculated expense that you must take into consideration. There is a slight chance that you can make a profit if you are choosing the hash to mine the altcoin that is still low in value but has a high perspective to make a breakthrough in the market. Before even joining and renting the hash try to analyze and investigate the best sites for the rentable hashes and even best possible altcoin with the perspective to fulfill the goals they have put ( I know that you are evaluating the Nice hash but there are better and more reputable sites) before them. Another problem that the rentable site, in this case, the Nice Hash, is presenting is the expense of the renting in the 24 hours that you are renting. You must calculate the quality, expense, and return of the mentioned hash.
I personally would invest in my own rig with the bankroll that is accumulated through the time. Rentable hash is passable and with your own mining rig; if you are not satisfied with the result of the hashed coin in the end at least you know that you don't have to rent hash for another 24 hours because you have your own mining equipment. Try to make the investment into hardware and it will bring you tremendous profit back in a long term.