Just because a neighborhood is hot, some investors say that house sold for X so mine should, when in reality they've not rehabbed to the same standard. 

I won’t get into too many details here, but the reality is hedge funds spend millions per year buying algorithms that exploit a market inefficiency that only exists for a couple of weeks and then it’s gone.

.$15,000 is probably a bit overboard, but I can do most labor myself, so $15,000 worth of work may in reality cost me half or a third of that in materials cost.

You hear that someone quit their job at BP all the time, but it's a small percentage of people that doing that in reality.

If so, what information would you give them to make them see things for the business reality of the situation, which is that they're realizing an economic loss every month they continue owning the house?

In reality everything else is going up and you are looking at doing your best to mitigate it.Good Luck in whatever you decide.

@Shawn Harvey You need to flesh out the details of the business plan to match the realities of the MHP market.

I use 3% vacancy, 5% capex, 5% maintenance for this particular property (*Full Disclosure: my day job pays my bills, so in reality I'm setting aside 100% of cash flow, but some of that money will also go towards more purchases).

Thats my understanding, but in reality, other than it effecting resale value, I don't think it matters much... 

Okay, enough of that.Now that you've had cold water thrown in your face and the cold reality of the situation (the potential to make a big mistake) has hit you, how are you going to react?