No I have not been in person, and what you are describing is exactly what I'm worried about.I will say that I do have a contractor who I trust to do an honest thorough inspection (I requested several references who all gave positive feedback, and the one property I did ask him to inspect he found a major structural issue and immediately told me not to considering buying it).It seems like when most people run into trouble its because their estimates of vacancy, maintenance, capex were all too optimistic.

Also anyone who gives you numbers, an agent, wholesaler, etc. verify this - many times they're very optimistic. 

CEO David Gibbs noted that while consumer spending is more cautious, the company remains optimistic about its growth prospects.Bloomin’ Brands, which operates Outback Steakhouse and Carrabba’s Italian Grill, is also maintaining its investment in new openings.

I am a definite NEWBIE, so here goes ...I know it's overkill right now, but I'm OPTIMISTIC.

Because it sucks.Maybe they'll turn it around, but the current team they have working on it certainly seems to be one of their teams that spends all their time on back-end tech and none on user experience like all the other failed google products, so I'm not optimistic.

They are being overly optimistic in their new projection just like their original projections.

That will be an optimistic guess.

Most of them are very optimistic about occupancy % and daily rates when they do their projections.

@Mike Dayfor what it's worth i was skeptical of your numbers too, i think they're overly optimistic and i tend to agree with @Dan H. in the spirited discussion you have been having. 

If someone is fearful, trying to convince them to be optimistic and invest is like trying to convince a devout catholic that god isn't real.Lenders are another can of worms, but similar to the investors.