Since there is less profit that is less margin for you to mess up and not end up loosing money.

You could end up loosing the deal to the next investor. 

And likely will end up as essentially the same as selling loose cigarettes.  

In some locations if your tenants complain about something then you are automatically on the defense (more than ordinarily) and for some issues, like enforcing a lease, you loose because you didn't have the legal authority to lease that part of the building as a dwelling unit.

By paying  yourself rent (saving excess) you will still be building a nest egg but it will be tax free.5.

If the 200+ unit complex has an acquisition cost of $10mm, a partner that contributes $1mm would be a 10% stake holder in the LLC, get 10% of the voting power, recieve 10% of the profits and 10% of the depreciation, and be liable for 10% of any expenses in excess of cash flow.3.

We believe this greater discount is due to the excessive inventory of distressed properties.

I would not have a yard sale because vacant property tend to loose copper plumbing quickly and that would offset any extra value.

Yup...and the rest of the country gets to pay for the excesses when the idiot lenders get bailed out.

It takes a certain personality to deal with homeowners who are loosing their house.