Some items:The higher rent appreciating market will always eventually have superior cash flow as long as rent appreciation exceeds expense inflation (excluding extraction of value which is in reality what most investors do).  

In all reality separating expenses by property with in an llc is for reporting purposes only as they all filter into the llc tax return (I could be wrong).

Funny, I have also been thinking the same thing, that we'll all try to live in denial (stagflation) until reality hits us in the face in a way that can't be ignored, and then hyper-inflation and much bigger problems. 

Our family been dreaming about running a family coffee shop for several years but the reality of expenses seems a bit intimidating.   

Without a realtor to make sure reality matches the spreadsheet you could be stuck with a crap asset and paper returns.

Properties are more expensive in reality than they often seem on paper. 

Spreading the false narrative of never declining markets does the opposite to distort reality and hinder good rational discord of thought.

They have an entitlement mentality not tied to reality.

The reality is good agents wont even touch these.

But in reality it is much less headaches than with residential and less competition.