I looked into their website and it states I need to be an accredited investor.

There are currently no contractors who have earned the accreditation as a Certified 203k Contractor in the MIddletown, NY area.

Or perhaps a document from a lender with some accreditation showing some certification? 

He also mentioned that once you become accredited you have the option to lend on their lending side.

Get a new loan before you retire and don't have the W2 income.Start networking with accredited investors.Get a turnkey for your son.

I would not be raising over $1M, no public marketing, and under 35 non accredited investors.

The more time he can dedicate to growing his wealth bucket, the faster it will grow.If he doesn't have much time or knowledge yet, a syndication for non-accredited investors is good way to learn.He could also put that capital down on a 4-plex and househack.Or find a great partner who has the experience and can put his capital to use in harmony with your friend's investing goals The other options you listed seem too risky if he doesn't have much experience.Good luck 

I won't get into the details here but the main differences are the registration requirements and whether accredited or non accredited investors can invest.

Any small blip in market values and if the lender has to take back the property in foreclosure after resale costs they stand to lose money on the loan.I have seen owner finance deals before at the bottom cycle for 10 to 15% down but in todays market there are too many buyers for cash or considerable down with a smaller loan.If you do allow a structure for owner finance that puts 10% down likely the price and terms will not be in your favor in exchange for the seller taking on more risk financing the note at a high LTV.You might try to bring on accredited investors to make up more of the equity stack to meet the lenders requirements on a larger deal for a typical loan LTV .

You then sign up with a Broker and they will provide additional education and tools.To be an “accredited investor”, you need to earn more than $200k (depending on the state and the investment)  or $300k jointly for the past two years and expect to maintain that level of income in the future.