They get suckered into some seminar that they think will give them "secrets" and emerge frustrated that it's all a sales exercise to get you into a platinum/gold/mentorship/coaching/access to ____/etc. program. 

I recognize it in myself but I exercise self control.

"  :)   But a gentle reminder of what you would be forced to do isn't out of order I think.  

I do not view exercise for the sake of exercise as being a normal or required activity however given present day societies pension for electronic toys (all thing done on a couch by internet) and avoidance of having to participate in such activities as shopping it is possible that exercise solely for the sake of exercise may be necessary.  

Personal goals: Spend quality time with 14 year old daughter, exercise regularly, continue to personalize and enjoy the beautiful home we bought this year, spend time at vacation home (when we are not renting it out!)

Well, living rent free in one of my Investment Properties eliminated that expense.Living in NYC and getting older, you realize that exercise is an important thing.

Maybe no longer at 40% and 30% below market value - for the exercise choose a number that you can accept as an achievable discount and do the numbers for the following alternative to Buy and Hold. 

As a thought exercise, start with the presumption that you're probably wrong about everything: the reasons you think this deal is worth buying, the underwriting behind your reasoning, your ideas about how you will add value and operate the property. 

Obviously, I run census data, get some reliable numbers for socio-economic data.Then it becomes more of an art:How many people are riding bikes, exercising, etcDo running, cycling, fitness groups pass through on routesHow many people walk their animalsDo I see obvious illegal activity spots.

Tip: use the BP calculator to see what your property could do, I performed this exercise with a property I currently own and determined to keep after analyzing for rental with proper investing(already have the equity in them to do this).I am fairly new, but think positive cash flow even if very low is still cash flow, but Jim K has some solid advice.