I want to make sure I don't give him too low where he wouldn't want to deal with me.Current Revenue InfoRent150Units16Total Rents $ 2,400.00 Total Rents/Y $ 28,800.00 Expense Ration %30NOI $ 20,160.00 Monthly Mortgage Payment(Assumed) I am aware this can Vary $ 1,500.00 Yearly CashFlow $ 2,160.00 The lot rents could be increased to $200 - $300.

So I've been consider a ration of something like 5:1 LTR-to-STR properties, so that the latter would provide the cash-flow necessary to support pursuing the former.I don't mind the more active environment of STR.

Actually, I thing the golden ration is more like 4170 votes for every 2582 posts.

Coldly, not aspirationally, rationally, value your time.

There are whole nation states that live in denial (a friend of a friend recently called the USA a "shining beacon of compassion" in the world and told me that it was inappropriate for me to bring up Japanese-American internment camps and two atoms bombs dropped on civilian populations as a counterexample to what he was saying), so is it so strange that these people just cut themselves off from dealing openly with their financial problems or making rational decisions about strategies to avoid foreclosure?

Bottom line is the market is not rational and you are competing with people who are not rational either.

But somebody paid OVER asking (30k over my bid).My only rational is that these are owner occupants, landlords not caring about equity, or just people being taken advantage of.

I've seen my share of tenant's sheepish "well, I didn't really think about it that way..." that to a property owner just defy any rational explanation. 

Rationalizing that future events (appreciation) you have no control over, will somehow fix (or balance out) negative CF is more foolish...and that's not investing, that's speculating, and should be left to the Stock Market.

If you run all of the numbers, on all of those examples you gave, I bet you would be very hard pressed to find a good example of one being an investment...without some sort of rationalization.