Unaccredited Investors in an Investment Partnership?

[Benjamin A Ersing]

When forming an investment partnership for the sake of purchasing multifamily investment properties, is it possible to include unaccredited investors? 

Second part, does your fund have a specific definition of "Sophisticated" investor that you reach out to for involvement? 

[Jaysen Medhurst]

Joint Venture (JV) partnerships, syndications, and funds are all different things, @Benjamin A Ersing. JV partners are usually "active" to some extent. Investors in a syndication are "passive," which is why they must (mostly) be accredited. Funds are a different thing altogether. Investors aren't putting money down on a specific property, but the portfolio that will be acquired and managed by the fund.

Sophisticated Investor and Accredited Investor have qualifications outlined by the SEC.