Their value is determined largely by comps not operations like commercial, they are expensive, they require an individual mortgage for each property you own, the buyers and sellers in that space are less sophisticated, etc. 

The concern I would have is that this would be the tip of the iceberg with a continuous litany of issues arising that need attention based on their perception.

I have  4 LLCs for commercial assets, but dozens of houses over 20 years never saw the cost/benefit of doing secret quitclaim deeds after the fact to get conventional financing and risking my hazard and title insurance just to be 'sophisticated '. 

I've spoken to Joe several times at length regarding some very sophisticated real estate topics, not only a very knowledgeable guy but a really nice guy to boot. 

I have an interesting History.I started a Real Estate Education Business where I taught my own Real Estate Course based upon a solid foundation of Financial Calculations such as PV, FV, DCR, Amortization Tables, ROR, ROI, Cashflows, IRR, etc.The Year I started the Course was around 2005 or 2006 and I tried recruiting students from an REIA that was called "NYCCashflow".What I offered was to teach all the Math that was necessary to become a sophisticated Real Estate Investor.There were also 3 Levels to the Class and each level needed to have a Final Exam to move up.I only charged $20 per week, but you had to spend 3 hours for that single class per week for approximately 6 months because most Students, including most Investors, are really Financially Math Illiterate. 

The perception and reality of crime in Chicago have existed for a long time. 

The declaration of war on this perception has been declared "you will own NOTHING, and be HAPPY".

Not a lot of people keep that amount of liquidity around.Also, if it is a 506(b) syndication then it can allow Sophisticated investors too, not only Accredited.You can also invest via crowd funding and I don't believe there is any requirement in that case.And if you are the syndicator, no you do not have to be Accredited but it helps because you will have to be able to qualify for the loan.

arianne's look is classic. i agree with all the gray votes. article after article goes with gray. color is at the heart of your design project and can create a light, bright tone which brings a sense of place to your potential clients. it says whatever you pair with me will look amazing. crisp white trim works wonders as the accent. it is sophisticated and elegant. it is modern, edgy and timeless. it is the perfect chameleon. it is simple and reliable. it represents peace and balance. all furniture styles may benefit from it. 

@Tim Wieneke I said should not would; and in this case perception is reality, if investors think a property manager is good enough (which they clearly do) why would they pay a 50%+ premium for anything more?