In my opinion, this explains the motivation for Pillario to give me an unrealistically high number.

It's always the new ones that shop you to death and are asking for unrealistic terms. 

Most also rely on beefed up rents and unrealistic operating expenses in their pro-formas to justify higher sale figures and can generally take advantage of their investor clients who are not familiar with the nuances of the market.Again, my recommendation is to be more active with your earliest investments but if you feel so strongly about a particular market network and partner with the leading developers  in that  market.

Quote from @James McGovern: Do this often and you will develop a reputation for being deceptive and hard to deal with and unrealistic. 

This seems unrealistic to me.

They are holding out for unrealistic prices.  

We work with referral or repeat customers only and over 21 years in the business I can tell you 90% of the bad reviews are tenants who are unrealistic, owe money or some other problem that was caused by them but they want to blame the property manager.

Expecting infinite returns is unrealistic→ equityis what drives long-term success.If you ever need assistance with financing or structuring deals to maximize equity, I’m here to help!

Most also rely on  beefed up rents and unrealistic operated expenses in their pro-formas to justify higher sale figures which appears to be the case here.

They honestly know what they are doingThe true way to know if someone is reputable is if they know their guidelines, can call you out if you are being unrealistic, and are quick to kill a deal rather than piece gum together and see if it will pass.