Well, I have come to accept the same is often true in reverse for euphoria, so I just strive to not feed into that at all but yes you are correct, my "farm" market is pacing about 5-7% rent appreciation although I am slowing that on leases to 3.5-4% for sustainability sake. 

It's going to be expensive, but if we don't do it, it's going to be death by 1000 cuts.Right now, everyone is intoxicated in the "high demand" environment, but there's a lot going on beneath the euphoria that should give STR owners  concern. 

When everyone and their brother is saying that they've got to buy right now before they get priced out of the market and the euphoria of appreciation is running rampant, it's time to sell.

http://www.wsj.com/articles/where-prices-start-at-115-million-bel-airs-trophy-home-boom-1446126541

That's my new word.You'd be right if you were investing because of market euphoria and you're trying to get in and out and make your money before the market collapses.

They are teaching you just enough to keep interested, paying more will allow you to continue your feeling of euphoria, but never satisfy it. information is free and readily available online and through networking if you want to pay for mentorship, you should have no reservations about the quality and legitimacy of the source you're paying.

Feel that to value properties in LA, traditional standard valuation techniques and methodologies do not apply (evidence of a bubble and overinflated prices by the way - euphoria).

So these companies tend to show ( Best Case ) scenario to effect a sense of euphoria and (Buy-In).I know Chris Clothier at Memphis Invest and my interactions with him he seems to be a stand up guy.

From 1921 until the peak euphoria in 1929, while the housing stayed mostly flat (3% drop from 1921 to 1929), the bond yields declined tremendously from 5.09% to 3.60 %.After the stock market peak in 1929, and subsequent Great Depression, the housing market dropped from by massive 25% by 1933 (such drop is only paralleled by GFC in 2008 in the recorded history!)

That was part of what made Real Estate a great journey.I think when Real Estate is new you can find yourself in a sense of euphoria.