If there is enough upside in that property you could potentially refinance and not lose any cash. 

Rule #1 of investing: Don't lose money.

All it would take is one person taking a quick cell-phone photo and I could lose my notary commission.

I'm hoping for feedback please let us know an update. did you lose your job?

If that person's loan costs you a couple thousand dollars more but they keep you from making a mistake of the same degree, then you're coming out ahead and learning without doing it the hard way (aka losing money and having to dig yourself out of a hole).

Will smaller units, that may have been in big demand by single people now sort of lose their shine?

If you send every dollar you make to pay your mortgage, put it under your mattress in cash, or lose all your income at the casino, that income is still taxable. 

This may put a sponsor in a precarious position in that if they hold the LP capitol and do not deploy that in essence the LP is losing money on that capitol, in addition this may then tempt a GP to force or at least be tempted to lessen standards simply to deploy capitol.  

I don't give a rat's what anyone else thinks about me or my choices in life or business.An excellent book to help you understand this is called, "How to Lose Friends and Infuriate People," by Jonar Nadar.

If you are going to play with the 70% rule I promise you you will either lose every single bid if you are competing with me or people lik eme that figure out the sweet spot per deal, OR, you will overpay because the 70% rule doesn't account for a LOT of things that you really should be accounting for.Dude look, don't ...why are you turning your business into a generic package?