Self-gravitating disks heated by stars reach a universal optical effective temperature of 4000-4500 K independent of accretion rate, black hole mass, and viscosity, explaining Little Red Dots.
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LRDs are interpreted as high-inclination hyper-Eddington accreting SMBHs analogous to SS 433, with V-shaped SEDs, X-ray weakness, and Balmer breaks emerging from disk self-shielding geometry.
Migration traps concentrate stellar-mass black holes in AGN disks, generating self-regulated magnetic reconnection heating that yields excess short-timescale optical/UV variability, flattened structure functions, and deviations from the τ∝λ^{4/3} lag relation.