We, as humans, are not one-bit rational beings. 

That is just an excuse that a lot our society uses to rationalize their decisions to spend more money and buy nicer things they don't actually need.  

From what I hear, when everything is going good and your tenant is a normal human being who is rational, self mgmt is the way to go.  

This I'm advocating is the wrong response.Instead landlords should take a deep breath and allow the stress hormones and neurotransmitters in their body to subside and then make a rational win/win strategy.  

Timing the market indeed doesn’t work but you don’t have to do it if you know what you do.I’m amazed to see that many real estate investors will buy real estate rationally but can’t seem to be able to look at stocks the same way.To simplify, when looking at the property, you look at the price and you then determine the value.

Most rational people have come to grips with the fact that 2008 isn't going to happen again in our lifetimes and work with what's in front of us.

So I realized right away the negativity around REI some people have is not based on reason or rationality. 

Everything else after that is just a rationalization so you don't feel bad about yourself. 

Your misunderstanding Chris, and your close exposure and experience, empathy, that makes it personal and your expressing that rationalization and I understand, I do, but your proposition is illogical and far more destructive and damaging than the disease that is killing as much as 2% who contract it.

Focusing on the property instead of the deal, or just as bad, rationalizing a bad deal into a good one, is a recipe for disaster.