Not all states have the distinction.

Structuring you affairs in this manner, your out of state holding LLC does not fall within California’s jurisdiction and is immune from its enforcement actions.Also, a benefit to using an attorney is that trial lawyers are more likely to go after you if they see you have a DYI LLC: they assume you may not have done a good job running your LLC as a distinct entity and maintaining good records.

If the market flips to a buyer's market, updates will help you to compete.There's an important distinction between upgrading a functional kitchen, bath, roof, etc and repairing one that is broken.Buyers will want important repairs made. 

It also might not be a meaningful distinction, but my business is focused on buy and hold, rather than flipping, so I don't have plans to sell any of these projects in the next several years, although I likely won't personally occupy them.  

Is there a distinct line on when you have to do that (relationship with investor, amount of money, size of deal,etc.)?

@Roy N. that's a very helpful distinction.

The phrase "this is a business" and "training your tenant" come up alot in discussions like this.There is a distinction between what that means said to a tenant and what that means when said to a business partner or peer.You want your tenant to understand that phrase to mean they should pay what is due, when it is due or suffer the consequences stipulated in the contract.

There are 2 distinct boxes Also, see the screenshot below.

I ask 5 distinct questions that must be answered in their response e-mail.  

In SF there is no distinction if it's apartments or condos, just unit count limit that is zoned.