I would encourage anyone even seeking information about potential projects to visit in person and not be dissuaded by horror stories about the process.Thanks to @Michaela G. and @Rick Baggenstoss for their helpful advice!

I am glad I made the switch, but now I am moving on to other segments in the commercial real estate market after being encouraged by my investor partners to do so. 

@Anne Williams As you've already been encouraged to do, even though this is not an investment property per se, it is still a large investment for you and you should try to get a good deal not just overpay because your agent tells you to.Appraisals are not the subjective 3rd-party valuation your agent is pretending they are.

Thanks for the encouraging response.

I encourage you to ignore the naysayers like @Josh Stack said and drive forward understanding that yes, while you are taking a risk, it is a calculated risk and one based off knowledge you've gained via someone who is actively and successfully doing this type of investing. 

I’m in a 506(b) on the GP Side right now & other than the ability to advertise under 506(c), one reason one wouldn't go with 506(b) and accept Sophisticated investors is increased liability.We feel comfortable and run a tight ship so we’re not too concerned; However, our SEC attorney has drafted all docs (operating agreement, subscription, & PPM) and has encouraged us to have the PPM be a more robust version because we are allowing sophisticated investors to colloberate. 

I don't want to encourage posting in this thread (complaining about moderators is not generally an allowable topic anyway), but you are always free to contact @Mindy Jensen if you have any questions about permissible topics or threads that have been moderated.

That's encouraging., just need to put on the work pants and get after it. 

My boss/owner of the company would not get upset and actually encourages me to get involved in various groups and organizations in town knowing it will take up some work time here in the office.It obviously costs money to take the course and exam, then I need to find a brokerage to hold my license, correct?

They are debt free (thank you US military) and I encouraged both to buy houses (turn key, no hacking) to avoid renting during residency.