Do I simply need to look elsewhere until the 'irrational exuberance' subsides?

Do I simply need to look elsewhere until the 'irrational exuberance' subsides?

So if I spend 15k on the kitchen and get 350/mo more, thats not a bad IRR (at least for me).

I feel that it is a little irrational but I'm sure many have had experience with these feelings.

Perhaps, this contrarian perspective will make others think and re-evaluate their plan.I would recommend "Irrational Exuberance"by Shiller if you care about a better description of behavioral economics. 

"I will research well, no irrational, emotional decisions,"and so on and so forth.

Cap rate at 5.97%, IRR at 25.70% and COCR at 10,292.97%.I refute two of the listings in their comparison that were on the higher end of costs because one is a lemon that is over priced and doesn't work well as a rental (but maybe as a BRRRR, and the other has zoning issues with non-compete agreements attached to the title.I think that $255,966 is the price that is on the good side of fair.

Utilities costs (Gas, Electric, Water) for the past 6 monthsThis part of your motivated seller questionnaire gives you the information with which you'll be able to decide whether the property needs a short sale, whether seller financing is an option, and how to structure a deal or an offer that can work for both you and the homeowner.You'll also need this information to properly market the house to your investment property buyers.If you're a new real estate investor, I hope you arm yourself with the information on this page to work out win-win-win solutions for your sellers, your buyers and yourself.Motivated Seller Questionnaire Red FlagsThe power of the motivated seller questionnaire is that it helps guide your interview process, and gives you a framework to make the screening as conversational as possible (In other words, it's a script, without the mechanical sounding words and phrases).It helps you in the 4 following ways: Avoid Outright deception by prospective property sellers Properly screen your inbound leads for seller motivation Helps screen out irritable, irrational, potentially psychotic people you should never, ever deal with Helps you build rapport with target ideal candidates Supplies information to help structure your dealsAvoiding Outright Deception I've had a property owner tell me "..All the house needs is less than $5,000 dollars in repairs, and it's ready..." on a house that clearly needed so much work ($35,000 to $40,000 dollars) that no buyer or agent had ever called him back.Better Motivated seller screening Being a successful real estate wholesaler is a matter of alignment.

In an industry where we deal with irrational tenants, a thank you from an investor can make the day of the individual who received the praise.  

In practice, the effect of tax savings is usually not included because it can be complicated to calculate.I use CoC and IRR at a minimum and I think IRR is a great comparative metric to use when I need to compare real estate to other type of investments.