What impact that would have on a LL would need to be uncovered.

If you are talking about a vacant, 100-unit property, the cash flow impact would be very painful.Let's focus on the real issue.

That game kills your cash flow and hurts your ability to gauge the investment up frontCondos have restrictions of all different kinds that may impact your business. 

Regarding my repairs, I targeted some low cost, high impact areas to affect appraisal pennies to the dollar.  

I eat the cost of water/sewer on all of my units, and it doesn't have any massive impact on my bottom line.  

Also, the intangible impact of purchase that may sway the decision to NOT go elsewhere as desired due to the impact of you having to sell.

If you have that situation then you could be facing procuring cause issues and bad blood/bad feelings.If you have 2-3 agents who have automatic emails going to you every day out of the MLS and you're seeing the same properties in all of the emails, you have a real issue on your hand and you need to resolve that quick.

This is especially impactful when you use any of your cash to buy a property.

I see unrealistic cash flow projections, various challenges at purchasing value, cash flow that on small unit count RE does not scale to make a significant impact. 

I switched to TK investing and lowered my blood pressure!