This dilemma is actually something that will keep you in check.Okay, before you think I'm really bad at estimating know this.

A few inches, maybe not so bad.

There are plenty of signs indicating it may be time for an adjustment.For me, based on what I have seen in the past, when there is a steep increase in Flipping shows on the TV it is a bad sign.

If you think my property is a bad deal, feel free to give some constructive criticism!  

I'd be more concerned with that because if he runs out of money half way (or even less) you're going to be in a real bad spot... and likely not be able to recover anything worthwhile. 

Carrying a bad investment with the hope of turning it around while digging a deeper hole seldom succeeds.

We had to go with a house in really bad shape that no one else wanted.

That is the reason many people do not make it.They say stuff like ".. but there is so much competition".The notion here is that they are the mean big bad wolves out there you the little guy has to bow down to.Ohh no.. not me.

The rent control isn’t that bad of thing, considering your not purchasing a property that already has tenants.

Once taxes are factored in, my ROE of 7% (it's free and clear) doesn't look so bad!