That process makes everyone dig deeper. 

No it's your friends boomer parents giving the downpayment to your Gen Z/millennial friend to buy that house to their newlywed son with their new daughter in law/wife being emotional and running up the price because it's a "dream" house.

The 2008 timeframe was different and in situations a lot harder than now, but this market will shape a lot of investors that found their new market, product to focus on, and/or to dive in deeper when times get tough.   

Take the emotions out of it and evaluate on what the deal is telling you.Good luck!

Anyways the link is below of you want to take a deeper look, feel free to connect if you want to chat more about it!

We were trying to buy a loan that was in default and the current lender was emotionally attached and has it listed for over $2M when comps are $1.5M. 

The home is in a great location in Big Bear Lake, CA close to the Village and Ski Slopes.I have an array of emotions being scared of failung and excited all at the same time.

If you have someone in MN you trust to manage the place that is one thing, if you don't it kind of answers the question (not that you couldn't find one).Renting out homes which you are emotional attached to can be quite difficult when tenants trash them (which will eventually happen).Best wishes

But let’s go a later deeper - my down payment would come out of a well performing stock portfolio.

ESP if you are planning to lowball, an agent might be more reasonable to discuss with (seller might get emotional and offended with your offer).