When I'm being rational about it, I think I'm in a good spot pricewise, but of course being new and anxious to get someone in, I'm second-guessing myself.Do you have a "Zen of Waiting for Renters?"

They probably wouldn't come to that conclusion if there wasn't a deal that they were analyzing but the emotion of the deal gets the better of them, they rationalize that it's "borderline" and so it's a "B-" and they can raise rents, but it's really not, doesn't appraise post-rehab, can't find tenants at their desired rent, etc. 

@Logan Allec the actual cost of CPMs should go unchanged or maybe we should expect an increase rationalized by Facebook using the argument that the algorithm change will increase the effectiveness of CPMs.

Just about any rational allocation will do, this isn't rocket science, just make sure the expenses are legit and use common sense.

You're rationalizing a bad deal into a good one. 

Regrettably sentiment has blinded your rational thinking.

I think people sometimes try to juxtapose full-gut vs. new construction to rationalize doing it.

Put your rational together in a presentation and send it over with your offer.

How do you go about rationalizing the value and mitigating the risk?

Clearly the diversity of opinion on this subject will allow you to go with the tenant you deem the most rational.