You Can Only Have 35 Non-Accredited InvestorsRule 506(b) allows an unlimited number of accredited investors but restricts you to only 35 non-accredited investors.However, there’s a catch:Non-accredited investors must be financially sophisticated.They must have enough experience to evaluate the investment risks.From the SEC:“Securities may not be sold to more than 35 non-accredited investors… [who] must meet the legal standard of having sufficient knowledge and experience in financial and business matters to be capable of evaluating the merits and risks of the prospective investment.”If you’re planning to include non-accredited investors, make sure they qualify—or you could be violating SEC rules.3.

I'm thinking long term rentals will be a good retirement plan.

Yes, im not sure about deal sourcing at least at my level because I dont make that much from the investment side of my business right now and I feel there would be a lot of training involved.

If doing a light rehab depending on the scenario sometimes an inspection is good if planning for just a cosmetic not to have any surprises later in the project 

It is the cost of doing business.

Every loan and bank will have its associated fees and cost as its the price to do business but if you see more leverage in tapping into existing equity that could very well be the case.

Assuming you don't plan on going back into any consumer debt again I like your plan versus barely getting by.

If the house has a septic system, especially if it's an older one, it's worth the investment to have a septic inspection done.This concern is particularly relevant for those planning to buy and hold the property rather than simply fix and sell it.

I had to call multiple businesses looking up google reviews, check availability, get quotes then schedule.

Our rates are generally closer to 10% depending on the plan you pick (you can search us and see our rates on our website - not trying to self promote) but that is for full service property management.