In my experience it just indicates people who probably grew up in a family where they were not sophisticated with money.

People smarter and more sophisticated than me in business law have advised that there are 1000 ways to pierce the shield of an LLC.  

Many investments in multifamily also will allow up to 35 "Sophisticated Investors".

Now I use a more sophisticated tool that provides me all the tax sale lists nation wide and reduces drastically my research time. if anyone wants to check it out: www.fastlien.co 

Curious how you all would think a resort + casino going into a STR market will go and the impact?

Most investors have not much experience and have ability to do proper due diligence, but...some of the lead in those forum are so good (and way more sophisticated than BP) to do proper DD.Although however I found discussion for CRE that's merely generating 7% income and single digit IRR with high risk of default is going on for very very long time.

@Spencer CuelloSpark Investment Group generally does 506b deals open to sophisticated and accredited investors. 506b rules require syndication sponsors have a relationship with the investors prior to entering into any investments.

Here's why this is so important for negotiation and decision-making.First, understand the seller's professionalism and sophistication.

Greetings bigger pockets, I am in the process of purchasing a hotel and casino in las vegas on the strip.

They're sophisticated people as far as investing is concerned.