Are there any drawbacks to accepting LP interest for smaller tickets?

Most jurisdictions have limits on the number of Limited Partners, and they also have accreditation standards for investing LPs. As a rule of thumb, you don't want a lot of LPs to manage, so you want to try and limit the number to 50, maybe 75. Now, you may want some strategic investors at the $50K level, so you make the first close minimum $50K, let in a few strategic LPs, and then raise the minimum to $100K or $250K.