So, while you pay more up front, and therefore can't buy as many to begin with, they offer distinct advantages.  

Some are preferable to others, especially in distinct areas.

There have been distinct periods that I recall where Memphis was booming: 1. 

residential areas are divided into 67 distinctive segments based on their socioeconomic and demographic composition, and then further classified into 14 LifeMode and Urbanization Groups...."

However, sometimes folks don't make that distinction, any more than they know that the BBB is not an arm of any government.

@Justin FernandezHere is one definition of "joint venture": "a commercial enterprise undertaken jointly by two or more parties that otherwise retain their distinct identities"For the sake of simplicity and what is most likely in our kind of real estate, let's agree for our discussion that we're talking only about 2 distinct parties (as opposed to 3 or more) joining in the JV.

Just here to give you some advice and suggestions.You are looking in two very distinct boroughs in the city.

Pre-funding provides three distinct advantages:A) If they don't sell it, they own it, so they have to put in an extra level of due diligence care.

For the purpose of this conversation, would you make a distinction between someone who is otherwise-involved in the industry (e.g.

The distinction is that (in many cases) an LLC with have a manager that will  oversee the day-to-day operations of the LLC but does not have a financial interest (not an owner).