I'd hate to see a fellow investor get burned once locked in.

After having recently being burned by a tenant that didn't pay the last months rent I decided to raise my security deposits.

Marion County in Florida made my attempt to officially add a bedroom a nightmare burning up months of my time and causing me to miss opportunities to rent it until we hit winter and everything got worse and worse with the economy.

@Sean DotsonThese are typically funds with a lot of money to burn and based on them buying 1,000’s of them I am sure their models will show they will end up making some money and with their cost of capital so low they can pay these types of prices

Bidding up the price just to win is a sure way to lose.The market hit a peak last year and people are still throwing cash into investments like the money is burning a hole in their pocket.

These easily burn through $7,000/month (depending on prop taxes) before pay roll and debt service).

Also, if they do enough volume, they just accept that they will occasionally get burned.  

I have a great tenant but he is complaining about rabbits burning his backyard lawn and pooping all over the place.

Unfortunately the hot water burned his hands.

I got burned out and quit my career in 2000 to become an EMT.