Depending on  your finances, that may bring your debt to income ration up to high.Goodluck!

Hey @Ozzy Sirimsi, yes like @Ned Carey, what you both are saying is truly rational.

Don't let your emotions take over your rational decision making. 

And that is something you can actually use to your advantage when talking to them, assuming they are calm, reasonable and rational when you try to talk to them.You explain that you have an attorney on retainer prepared to file eviction, but would prefer to allow them some time to locate alternative rental housing first since the eviction filing could hurt their chances of acceptance with most landlords.

I have rationalized that since I'm essentially buying this property for 4 times the original cost by paying off the ridiculous mortgage I got stuck with, I should be able to use that as my cost basis.

That's just another form or rationalization, which can only get you into trouble. 

You'll likely end up having to forgive all late fees or end up trying to rationalize how giving a break to a white guy was part of a marketing campaign that, what, the single mom wasn't eligible for?  

I just moved from the Bay Area to Sacramento in order to cut my living expenses in half - so I like to think I haven't completely been inactive (maybe I'm rationalizing this!)

When I get into it, I'm thinking a ration or 60loan/40 equity would be a good cushion to have cash flow but also protect your self in case of deflation.

In fact, that description of selling the truck is actually what's called "rationalizing."