Purely from an investment perspective I would be concerned with the almost infinite amount of competition that exist.

In all seriousness, I initiated a bidding war for three reasons, none of which are pure spite. 

In Worcester we have a pure monthly cashflow of about $900 a month, $300 per unit.

This is PURE cashflow for them.

Pure and simple.

I figured the listing price would be based on comps (like when I bought it), but I was unsure because it is a pure investment property now and I thought maybe it would attract a commercial buyer (where NOI is king).

If you are a pure squatter, it takes 20 years of exclusive and continuous possession.

The exemption is purely on UDFI stemming from mortgaged real estate investments.

A mtg loan, just a heloc, is pure simple interest.....interest owed for that month is purely the interest rate applied to the loan balance.The reason one pays such a huge amount in interest on a 30 year loan is simply that....you don’t pay all the principle back fully for 30 years, so you are paying interest on a steadily declining balance for 30 years.Yes, I know what an amortization schedule looks like.Why don’t you compare a 30 year $100k with a heloc at the same rate.....make the same exact payments per month on heloc as called for in the 30 year loan.....you will find the heloc takes Exactly the same 360 monthly payments.They both calculate interest each month Exactly the same.

If you're looking at a purely passive investment strategy, single family rentals or a small apartment building isn't a bad way to go.