New business plan idea, is it doable/feasible?

[Jacob Perrin]

Hello all,

I am looking at starting an LLC for multifamily home investments. I thought of this plan to open a LLC, and reach out to family and friends to invest money in the business in return for a certain percent of ROI. Is this legal? Do I have to register a fund through the SEC? Also, None of the investors would be accredited either.

thanks in advance for any advice or input!