Instant gratification is the goal, not growth or development. 

My goal is to create instant equity, get 3-5 years of accelerated debt-paydown and end up with huge equity (or paid off properties)...typically selling or paying off the property at that point.

This is what I love about BP INSTANT FEEDBACK.

personal choice most rentals are bought at or above market.. especially if they are out of state investors.5 to 8 years ago the vendors I funded who sold turnkey would advertise instant equity etc.. and that was generally true vis a vi a rate and term refi..

So if I'm a local LO and want my reputation among local Bay Area Realtors to be that my preapproval letter is as good as gold, the wonky ones are full TBD Approvals even if it means I occasionally lose business from one of my fellow perpetually impatient "now now now" instant gratification-seeking millenials. 

They’ve paid $30k instantly twice on two toilet supply line flood claims at two different homes. 

But when I look for the nickname, it instantly pops up in my head

There are great deals out there, but you have to have all your ducks lined up to make an offer and be ready to buy in an instant.

Initially I wanted to do the 203K FHA loan, buy and fix and gain instant equity.

Given that there are a few properties of this scale for sale like this around the south seattle area (and a very well kept 16 unit in renton that I think didn't sell and the listing expired recently too)  all of which are similarly overpriced and havent sold instantly,   Its another sign that maybe things are peaking,  or at least stabilizing.