I had to get over this psychological aspect when I first started and at the same time I had to understand we are dealing with human beings and we can't just be ruthless.

@Jarred Marrow There's a lot of great books you could read; I'm currently reading the Psychology of Money by Morgan Housel.

Facts and logic don't fix problems of the human condition....it's about psychology, not real estate.  

@Andrew Jacksonin response to your general investing psychology question:Assume the LV market declines 20% by May 1. 

This is not a delicate psychological battle of wills, it's a landlord-tenant dispute. 

The psychology is all based on the tried and true MLM marketing campaigns.

Psychology of Money - Morgan HouselMany good books by Robert Greene.

I also added some psychology in there before and after I laid down the law to em' for an anticipated positive outcome by the tenant and thanked them for their cooperation..lol.Basically the letter says your being a stubborn, difficult idiot and either you can cooperate or we will file eviction plus come in and fix this stuff while your being evicted whether you like it or not so you can deal with it, leave or we will help you leave but we are still coming in.

I realize that what I've said probably makes no sense and I've probably lost whatever credibility I have in making a sound decision, but I'm just expressing what I feel in this psychology forum.But, moreover, while what the market does should definitely be a concern (and believe me, it is), the fact that my investment strategy is to hold for the long term may negate any potential loss I incur in market value.

It’s less about the deal and more about the psychology of the relationship between the realtor and investor.