I would like to know if I could create cashflow from a studio apartment across from the beach.

For lenders, I have access to private money lenders or if you want to go the traditional route, I recommend checking out Coast to Coast - Jeff Weller. 

How did the unaccredited investor access the 506(b) syndication initially?

Areas like Logan Square, Lincoln Park, and Pilsen attract renters due to their trendy amenities and access to public transit.

Definitely glad to be a part of this community and learn from some great folks!

When you can access the opportunities first, you can qualify the lead first, analyse and find the best deals first, reach out and build rapport first , offer your solution first (rather than having your offer thrown on a pile of others the individual has already been given) and so on.

And recently closed on a condo apartment that I'm renting by the room.

Quote from @Andrew Self: Previous apartment.

I know that the regulations in Beverly Hills is "friendlier" to landlords than Los Angeles and I'm exploring the option to convert a multifamily apartment into condos. 

Haverhill is another interesting area with reasonable home prices and a lot of municipal developments in the works (also the commuter rail and easy access to major highways).