The amount of VALUE here on BP is incredible and I am sure will be compounded by your active participation! 

., the bill modernizes the definition of accredited investor so those who do not have a high income or high net worth but do have the education and job experience to evaluate investment risks and merits can participate in the growth of promising companies.

This is a program where 1st time home-buyers who make at or under a certain % of the area median income (say 80% or less for example) qualify to apply for the grant, certain banks receive grant funds so you would need to ask your bank if they participate in this programRehab costs: $40,000 (lot of sweat-equity)Appraised: $385,000NEW PITI $1785/month: Refinanced into a loan of $260,000 ($325,000 with 20% down, 30 year fixed rate portfolio loan @ 4.375%) and pulled out $61,000 ($260,000 minus $191,00 owed on old loan minus $8000 closing costs) I could have taken out a higher loan (due to the appraised value) and received more cash-out $, but I wanted to be conscious of what my new PITI would be and make sure I could cash-flow going down the road.DetailsBefore Renovation- 864 sq ft - 3 bed 1 bath ranch style home, , attached 2 car garage, 1/3 acre yard- Purchased foreclosed for $220,000 with a 30 year fixed rate loan @ 3.875% - PITI $1385/monthI worked with my local bank to build in renovation funds into the actual loan, where I would pay to have work done to improve the property (new roof, heating system, flooring, etc) and the bank would inspect the work then release funds to me to reimburse for the cost of each repair as they were madeAfter Renovation- 1278 sq ft (finished basement added 415 sq ft)- 3 bed 2 full baths- Appraised Value $385,000The first 6 months in the property was spent doing new roof, heating system, refinishing existing hardwoods (hidden under grey shag rug), new SS appliances, new paint inside and out, finished basement (added another living room, office/bedroom, and full bathroom)For the refinanceI was quoted by my local bank for a 30 year loan a 4.875% interest rate. 

Which REI groups / events do you typically participate in?

If he manages the units shouldn't he be actively participating?

I participated in the Rio Olympics and four world championships as well as African games.

See the following for more on the 401k distribution rules. https://www.irs.gov/retirement-plans/plan-particip...

The 2018 second quarter RealtyRates Investor survey says that apartment cap rates are on average between 4.9-13.8 nationwide depending on LTV, but the survey is not limited to recent acquisitions and I assume that those that participate in the survey know what they are doing .So this bring me back to my question: for those who are actually set up to responsibly invest but don't have the experience or network to hit the 15% CoC returns in today's market where the pros are also claiming good deal are hard to come by, is shooting for the 5 cap cash purchase on their first deal to learn the ropes a crazy idea?

See the rules for yourself:https://www.irs.gov/retirement-plans/plan-particip...I understand that this is probably not what you want to hear and you will hear all kinds of answers on the internet, but please be aware of the risk having your IRA, your wife's IRA and your mother's IRA disqualified. 

Among them is my discussion to see if what's going on with discussions I participated in.