and greed will grab folks and make them do irrational things  IE 40% on unsecured equipment note..

Maybe that’s an irrational fear.

You are approaching an "irrational" market where "anything goes" in a very logical, rational (and correct, I would submit) way.

., so i doubt a pile of wood and brick can return more than that without a "revision to mean" or put another way, a correction back to historical appreciation.So lookup ca home appreciation graphs for last 50 years or so that show the historical norms and the fluctuations to get an idea where prices should be.With that said, "most of my investment life is spent waiting"-Warren buffetAnd "markets can stay irrational longer than you can stay solvent"- john Keynes

It just takes some effort to learn how to fine-tune your channels and determine what is noise, what is irrational fear, what is solid ground.

For instance, retail (50-100K) type investors are being offered value-add deals (by experienced syndicators) around the 15-18% IRR, at this stage of the cycle.

I let them know if they want to move out I am willing to let them do that, but they need to continue paying rent until they move out and they can't use their security deposit for rent.I could go in so many directions with this post because it's just been a non-stop barrage of irrationalities from my tenants, but I'll limit myself to one simple question that Google hasn't been able to answer:Do the 72 hours that landlords have to resolve issues related to essential services like water, heat, etc. include weekends?

That is an irrational approach     The smart money in CA is buying in other states.

With the SFH market being driven by irrational home buyers the cost per door is highly unpredictable down the road.

Its the invisible hand (Adam Smith), not entirely irrational exuberance.