I used that rational to propel myself to take action.

Maybe you could write a post on how we all can fall into the trap of rationalizing why our deals make sense to ourselves.

Whoever the closing attorney was had obligation to figure this out and go the proper pro rations on the closing statement.

Let's squash that rationalization...it's made up.The current Act restricts the freedom of the capital raiser...not the freedom of the investor. 

I'm not advocating to rationalize and flex on your criteria, I'm  advocating for deliberately discounting it because it's your first, acknowledging the context of your situation and setting a strategy that aligns to the amount of hustle, education and proaction you are prepared to take.

If everyone was a 100% rational then bubbles would not exist. 

That is the normal, rational thing to call it. 

Considering the deal is hard money rationalization. 

Is this a rational fear for a first time investor, with my only experience coming from a couple of books and the Bigger Pockets Podcast?

I've seen a 2007 build property that runs on 35% expenses ration and a 70's product that runs closer to 50% In an ABP property you would run closer to 65% expenses.