Some here are trying to write it all off as irrational "hate", but they might also be selling services to wholesalers, or are one themselves, so they have a vested interest in convincing you its a valid business model.Also a lot of these "haters" have been in the game a long time, longer than the shovel-sellers and other wholesalers, so there's probably actual valid reasons for their opinions.. 

I think that's a potential indicator of irrational exuberance.

Once you sell (rental property and/or other market-based investments), it’s probably easier to use IRR at that point.  

After the better part a morning deal with an irrate perspective tenant over my pet fees.

However, the deals I have seen in markets like LA, seem to have a much lower expectation for both CoC and IRR. At

I've been researching for months now on rental properties and intend to do so for a few more months (wanna finish my CPA before I focus on rentals). But I've been shopping around to see what's out there. I found a 75k...

Looking for more direction so that I can become informed before making any irrational decisions.

I don't want to be talking myself out of this, nor rushing myself into this irrationally.

its all market specific you have opinions by folks from all over the US.. were their markets are not like west coast markets.. and you can still low ball no problem.also right now people are irrational with small multi's in that they are paying too much and most sellers know it.. buyers brokers agreements have been around for the 42 years I have been doing this..

My thought process was that you are absolutely correct and 98% are going to be either underwater or irrational sellers.