(New asking price is $1,550k)@Joel Owens, you had previously mentioned that 3% vacancy loss is far from realistic considering 40% of this property's rent roll was office space (on 2nd floor).. note that this vacancy loss is not based on current available rent, its a de-ration to the current actual rented space (which there is 90% vacancy on current space)... so effectively there is a total ~13% vacancy loss considered.

Thus rationality will exit the decision process and things will be more bubble-like.  

Return expectations were rationally consistent amongst the group.

You will probably  pay a lot  more for her but it's probably still less than paying capital gains.If you want a reasonably priced competent exchange and can rationalize yourself to probably never seeing our ugly mugs in person (although coffees on me anytime you're in St.

Plus for the existing tenants I could rationalize a rent increase.

The numbers don't lie...so don't argue with them.The most expensive word in anyone's vocabulary, but is deadly in a REI vocabulary, is "rationalization".The numbers are telling this is is a bad deal...listen, and don't argue.

Because my rational mind says that if it's this easy, wouldn't the market be saturated with wholesalers?

At lunch I reluctantly agreed rationalizing, that when you add the flooring project, two thirds of the paint wasn’t that much.Long story short, they left after lunch – and never came back.

I am having trouble getting investor 1 to make any decisions or to act rationally.

Rationalizing that learning from your mistakes is a good thing, is just that...a rationalization.