The sheriff went to their new office and tagged almost every piece of furniture/computers/servers in their office, in addition seized bank payroll bank account for 43,000.

also keep in mind low value assets many times are not owned by sophisticated folks who probably would never do a deal on the computer they need that person to come over and talk them into it and do it in person.. that's for certain.

I am imagining there are about 25-50 fairly sophisticated individuals involved on the equity side, maybe $5-10m in debt.

I recently got my my license and am starting to let sophisticated buyer know about this.

Often not worth the paper any of this is printed on but, depending on the sophistication of your borrower, and whether they can even afford a lawyer at this point, you might be able to leverage a deal.

But one does need to be Sophisticated, even if you are Accredited, as you should not go there unless you understand how it works.  

He's gotten in to syndicating multifamily, and he raises money for two funds - an Accredited fund and a non-accredited/sophisticated fund.

I might have missed something on the government site.I know that in the UK, the regulator there, the FCA, has a path which allows a non-accredited investor (the UK term: restricted retail) to progress to accredited (the UK term: sophisticated).

There we have payroll set up for our help and we also issue 1099s to independent contractors that do work for us. 

Not sure how sophisticated you want to get with your market analysis, but when getting started, I kept it relatively simple and created a spreadsheet of home sales and rents.