No longer chasing grand slams--there's just too much heat in the market adding to the risk. 

Am I just chasing my tail here?

As for your question, from what I've read is that you must set a limit for yourself, or you'll be chasing the price as it goes up to unacceptable levels.

Chase wouldn't open bank accounts in the name of the cells and we couldn't find a local TN bank who would set this up for us living out of state.

Your huge banks like Wells Fargo and Chase aren't going to help you out so think smaller is better.  

Investors and brokers is a two way street.Being that I am both I understand both equations.If a buyer came to me for a certain area wanting a fully performing property at an 11 cap and I know for a FACT that properties in that area are trading at 9's everyday of the week then that buyer is unrealistic.I will say it is fine that an investor if they choose wants to go on a wild goose chase for a year to try and find a property that is very uncommon in the marketplace to purchase.Just do not expect any broker or agent who values their time to go on such a mission.

Better to "leave" a couple thousand on the table and get a quick sale, than lose multiple thousands because you tried to chase a few more dollars. 

Scott discusses it more thoroughly in the book, but given that I like to chase rabbits, my patience did not allow me to wait that long.

They do not have the manpower to be chasing every investor crossing the grey line.

We don't want to use up all of our dry powder chasing a 14% cash on cash return when similar opportunities may yield much higher returns.