As others have said everyone has their own tolerances.

What is your risk tolerance?

It's quite possible, given your capitalization and your risk tolerance, that a lower NPV project is preferable over a project with a higher NPV.Btw, the other reason that Buffett is less concerned about detailed financial analysis is that he is more concerned than most people about the quality of managers he hires.

I only tolerate negatives when I'm paying down the mortgage more rapidly as a result.As far as the $150 - start slow.

All depends on your risk tolerances and debt aversion. 

For example, when looking at a triple-net lease property with a credit tenant, most investors we encounter will accept a lower IRR; if the property presents some significant long-term risk, then they will generally expect higher -- and will generally be less tolerant of dicey cash flow projections.

I think it all comes down to risk tolerance and knowing what you're doing.

While they may not care for you as a listing agent.. tolerate you as a buyer agent.. they LOVE you as an Agent/Investor.  

What's your risk tolerance?

It looks a lot better and cleaner then before, it was pretty awful, now it's tolerable,  the plan was to take a sponge with a bit darker paint co yeast the stone from mortar joints.