Do I need to borrow from accredited investors only for a flip?

[Naveen Desai]

Hi Folks, 

    Not sure if this question is appropriate here. ( Mods - Please note!). Let me know otherwise. 

I am looking to ask a loan from an individual or group of people with specific %age per annum return to them. I will be using this amount to buy/rehab property, which I would flip and plan to return the money with specified interest rate. I may have notarized promissory note and any documents to do this legally. 

However, Is it legal to take loan from individuals or group of known people to buy and rehab properties? Should I only take it from accredited investors?  

Appreciate your inputs/advice. 

Thanks.