"Finally, there's a lot of irrational fear out there about the due on sale clause and the lender calling the note.

Someone renting their luxury cabin for $150 a night isn’t necessarily an irrational investor: If they bought the place 15 years ago for one fourth of today’s prices, and the home is paid off, $150 per night might make perfect sense.

@David D.Investing in real estate is a business and buyers and sellers make irrational decisions. 

This is an irrationally risk-averse take on finances. 

Notice inventory creeping up versus 2017 levels when IR rates are at such different periods.

In my rental business, I value long term tenants who pay on time, keep their unit maintained, and don't pester me with irrational complaints.

I do not know how you define irrational.  

Assuming the repairs come of their current asking price and are ~$40,000, I did a quick underwriting and come up with a 5.7% levered IRR at a 10 year hold period and 6.5% interest rate. 

I rarely see people talking about IRR at that size.

A phobia is an "irrational fear" and I doubt he is afraid of gay people.