Also, being in CA you are much more likely to be accredited (since $200K here doesn't really mean a whole lot in CA or NY) which opens up a world of possibilities.

Are the investors all accredited investors?  

In a syndication you are dealing with accredited investors, one of whom has a personal networth equal to or greater than the amount borrowed from the bank.

I think it offers a lot more options for little fish like me, who thought you have to save and save and save....till the day you can invest...but still mama papa shop bearing all risk by myself.aside from the fact that some of them would require being accredited investor, how people view this type of investment here?

And looking back I would do it all over again.My strategy is I syndicate my deals and partner with accredited investors whereby the asset generates passive cash flow for us.

In (b), the investor must have a preexisting relationship with a sponsor AND be sophisticated or accredited; even the foolish relatives. 

@Roger PoulinFirstly-genius ideaI had the same question a while back on SEC regulation D and 506 exemptionsI learned a ton on accredited investors, etc but I didn't quite get a yes or no answer to the above question. 

Select a contractor with verifiable experience with the 203k, such as one with the accreditation as a Certified 203k Contractor and not one that says "Oh sure ...

I came across a funny article this morning.Your SEC Investor Advocate--who is supposed to advocate on behalf of investors--doesnt seem to think that non-accredited investors want to invest in private offerings, and that private companies don't want non-accredited investor money.

Most accredited investors don't mess with buying rentals of their own.