C'mon man, you are rationalizing.

I just moved from the Bay Area to Sacramento in order to cut my living expenses in half - so I like to think I haven't completely been inactive (maybe I'm rationalizing this!)

You only buy deals that work,...without rationalizing them. 

People get emotional when they talk about their own family, state, country etc> it is better to use Spain, Tokyo as examples, so people can follow the rational arguments as opposed to blurt out "I was born here and I will die here"....I believe some people can tell you that what happened in California in 2008 had nothing to do with California itself.

Typically I would have held and waited it out, but luckily I liquidated because I was planning to buy some additional properties and am now sitting on a lot of dry powder actively looking for deals.I believe the rational for not selling might be the same dynamic behind buying for monthly cash flow instead of buying based on speculative appreciation.

I just keep coming back to the fact that a rational business person, who had fulfilled all of their duties, would see that it is in their best interest to nip this issue in the bud ASAP and move on if they believe their partner is willing to see this lawsuit through. 

If you try to rationalize the facts of it a fixed loan has little to no rationale. 

Rationalization = Losing moneyThe actual cost of the property is the amount of cash you put into the deal. 

Of course I'm only rationalizing this now, after the fact.

You've sold me with your even keeled, succinct, and rational posts.