I'm sure it's a psychological burden for the person involved, but I don't see how it would affect your landlord/tenant relationship, or be any kind of liability issue for you.

I console myself with the fact that it will open up some cash flow if I pay it off, but deep down I'm know this is entirely a psychological motivation to see it gone.

I do find it interesting, the psychology of the conflict that seems to really exist between investors and appraisers.

This is mostly psychological, but when it comes to negotiations, there is nothing wrong with using psychological tricks to help you get what you want/need.So, in the future, saying something like, "I know you estimated $150K, but we really need to squeeze this into $130K.

Here you go:http://www.biggerpockets.com/blogs/4430/blog_posts/31793-the-psychology-of-raising-money

They weren't prepared to sell psychologically or market-wise.  

As Investors and Real Estate Entrepreneurs I believe its important that we nourish our psychology to remain positive and productive.

Sorry to be a buzzkill but hoarding is a psychological issue that has huge ramifications.

Psychology matters.  

I've heard many explanations for why this is a basic tenant, but here's my theory... stating a number is making a commitment to the transaction and giving up the power to decide, psychologically anyway.