We have done very well on that house as well.I think you have to be careful to avoid irrational exuberance, but if you have really focused in on an area, knowing the market is an advantage and the property might be worth more than the appraised value.  

Well, getting back to the premies of your original post, you seem to be implying that someone is behaving "irrationally" by hanging on to a day job and funding a 401K or IRA vs getting into the REI game.

I was afraid they would use it to possibly inflate their fee structure...basically "if he paid x amount before why can't we charge him x amount again or higher" maybe this irrational but I don't see how they could possibly benefit or approve my loan based on an old closing disclosure from another transaction. 

I am worried about is boomers and Xers that are trying to catch up with their retirements and spending irrationally.  

Buyers often in hot markets make irrational decisions.

Sadly,  the government is an irrational force in the market so we can only guess how that will play out.

I am sure this will lead to many interesting folks ... can I add that maybe you do  a little background on folks that you allow to do Podcasts.BP is such a strong site that some of the folks that have gotten on BP podcasts if the facts about those folks had came to light you may have chose not to put them on in the first place.. then BP investors end up kind of blindly investing with them because of irrational thought process that HEY they did a pod cast they must be golden.

$1,300/month renters are not necessarily being irrational.  

As you can see, many of the equity kickers did not materialize.20% projected IRR at iFunding realized 10%13% projected IRR at iFunding realized 13%18% projected IRR at iFunding realized 14%20% projected IRR at iFunding realized 16%20% projected IRR at RealtyShares realized 0%20% projected IRR at RealtyShares realized 13%20% projected IRR at RealtyShares realized 15%17% projected IRR at RealtyShares realized 12%15% projected IRR at RealtyShares realized 3%13% projected IRR at Fundrise realized 13%By Platform iFunding 13.7% IRR, Fundrise averages a 13% IRR, , and Realty Shares 9.2% IRR.Equity InvestmentsSix equity deals have gone full cycle and overall, they have outperformed.

Spock who would be more of a irrational decision maker.