I listened to Gene as a guest on several other podcasts and also listened to his podcast series (seems to have stopped doing for now.)

IMO your safety from an investor standpoint comes with building a large portfolio.If you can keep it "under the same roof" even better.Less people to speak with and less drama with logistics and correspondence.The bigger the portfolio, the safer and the better ROI will be long term.Our most unsatisfied investors are the one's that own 1-2 properties and get pissed off with me and my company if they go vacant.Unfortunately, turnkey providers aren't magicians or God and can't wave a magic wand and turn 2 properties into 10 over night lolFolks that own 7-8 or 10+ properties with us aren't bothered if 1 or 2 are vacant, as the others are still performing and cover any losses on those that aren't.Thanks and much success

Has anyone stopped to wonder why some Sponsors can secure commitments from the more sophisticated check writers while others have to target less sophisticated investors and spend significantly more time on the capital raising to compete for the same buildings?

Lots of opportunities to stop and prevent it. 

With that being said, owning your primary is the easiest way to move forward with a refinance, however, it is not a hard stop if an investor doesn’t own their primary.

I had a new baby on the way, jobs had stopped coming in and I found myself solidly in a “what’s next” phase of life.

Link.And if you think it is going to stop there and not reach into the physical world than watch this: Figure1 robot demonstration.

I stopped carrying 99% of the time after that because I had been out of the army a dozen years already and it too close for comfort.Next was 2021, when I decided to take REI seriously.

If not, she will eventually find a new place, stop paying rent, string you along, and then move out in the middle of the night leaving you with a vacancy, past due rent and most likely a mess and damage to the unit.  

Your tenants and their kids are drinking that water - if you won't drink it neither should they.I'm not trying to be up on a high horse - I didn't know how bad the were until I saw one being repaired... no stop rip all that stuff out.