You have to vet the syndicators, and find one that will accept non-accredited investors (which it sounds like you are). 

If he is a accredited investor plus he should not buy SFHs since they are not scalable.

These are usually accredited investors who have CPA's, attorneys and business people to bounce ideas and deals off of, plus their own experience.

I would try to find something like what we do for our accredited investors, monthly distributions with a strong cash on cash return, and with an opp. to 1031 down the line.

This can be accredited investments (506 C) and I will continue to network with relationships I have for accredited/non accredited options -506 B.

Select your partners wisely - Realtor, Lender, 203k Consultant, and ContractorREALTOR - it's recommended to work with one that has done a 203k in the past so they know what verbiage HUD wants to be added to the purchase offer contract and how to structure the deal.Lender - advise you to select a lender with verified 203k experience; the lender is the quarterback in the process, controlling the rules, paperwork, processes, procedures, and if the lender does not have sufficient experience with the 203k, your entire process can look like the Cleveland Browns on a Sunday afternoon.203k Consultant - The 203k Consultant determines the scope of work and pricing for the project and inspects the completed work; the lender is responsible for selecting the 203k Consultant (refer to Lender paragraph above).Contractor - strongly advise you to select a contractor with the accreditation as a Certified 203k Contractor; keep in mind that the contractor does not necessarily determine the pricing for the project (see 203k Consultant info above) but does need to know the different versions of the 203k, payment methods, timelines, paperwork, forms, and processes; definitely don't want to work with a contractor who is going to "wing it" on a 203k.You're only as strong as your weakest link.

I plan to market under Reg D 506(c) and will vet my accredited investors.

Alternatively, if you are accredited (not always required, but more opportunities if you are) and have money to invest going into a handful of syndications as an LP is a great way to learn too. 

At that point, they are probably an accredited investor and can buy into syndications which give very favorable returns.

The bad is that you might have to be an accredited investor to invest with them.