People get attached to them, people get excited and overbid, people do all sorts of irrational things, especially when markets get crazy.

I think the seller is being a bit irrational and we are we are considering walking.

Many times, security is quite irrational.

All paper profits that existed because of irrational exuberance.

Personally, I'm modeling for over 10% CoC year one, over 15% CoC by year three and IRR at 20%+ for a 5-10 year hold.

And is there something I could do differently next time to avoid situations like this - one thing I am thinking is not to speak directly to the seller again, as I did not anticipate an irrational person on the other side of the phone.

Indeed, like I mentioned in my post here the Boston market is very bubblish and irrational these past months, every investor competing for "hot" areas, offering way more than ask price, especially with the reasonable rates and the summer season.Even if I could manage a down payment on a conventional loan, should I be considering FHAfinancing or a 203k loan on a property that needs work to retain some of my cash?

I've attended several.Do the words "Irrational exuberance" mean anything to you? 

We only bought 3 assets in 18 and 2 assets in 19 due to irrational exuberance of other buyers willing to take a far lower return.

If you analyse your IRR at that 10 year mark and add in the earned equity (which is the reduction above): Property A IRR = 3.53% Property B IRR = 4.65% Property B still out performs property A, why?