The monetary effect this has on your family is minimal to none but the emotional effect for your wife is different and takes a little time to adjust. 

Everything was a feeding frenzy with emotional buyers, not wise investors.

I just want to ask: is an emotional decision or a wise business decision?

People need to learn to look at data, not emotions, opinions, wishes, or luck.If "making a deal" means being credible, having a web presence, and having credibility, ... this is simply what it takes to get a deal.

I recommend not using debt to purchase properties, as it puts an undue burden, both fiscally and emotionally, on carrying that debt service. 

Lot's of time investors get emotional and want to over upgrade and will not achieve any higher rents in doing so.

Some of the best advise I've heard is to take the emotion out of real estate.

Many times home owners have an inflated value in their heads due to emotional attachment to the property.

Fear False evidence appearing real You ran the numbers on the income so don’t be scared fear comes from not knowing and you reasonably know what to expect based on numbers not emotions .

To me, it's an investment, think of your tenant as your client and when times get tough give them the emotional incentive to want to keep paying rent/be extra communicative and transparent.