This also costs you more in time and mental energy.

Unfortunately the deal fell through before I really had a chance at it (intermediary waited too long to bring it to me, investor found another buyer), but this deal still felt like a good mental exercise so I wanted to share it with the BP community.

I have several masters degrees none in Real Estate  - they have provided me personal and mental growth, discipline and much more, all characteristics that have translated to my personal Real Estate success ... 

I don't understand the stock market mentality, and hate to see it being applied to real estate.

It's part of being in business, and it's not worth your time and mental energy.

I grew up as a big time DIY’er so I have had to have a big mentality change over the years but it’s impossible to scale past a certain point without delegating certain things.

For situations like these where a house requires minor rehab to rent, but a more thorough rehab to boost rental income, I'm starting to run the numbers both ways.

I'd even say a good 25% of my bookings are accepted and paid before some of my competitors even bothered to respond to what I'm sure are inquiries from the same person that asked me about rates for a particular week/month.And once on-property, if you're not checking in, being pro-active about making sure they're happy or spot checking occasionally to top them up on towels or what not, you may see your ratings tend towards the non-5 star.So to sum up, I'd say if you're coming from a long term rental mindset, the attention to detail and constant communication would be the biggest shift in mentality.  

I realize this did not answer your question directly, but it gives you an idea of how these things proceed and the mental math an attorney needs to do before he files suit.

The accepted for of testing for emotional and mental disability is the DSM-5.