Crime is a drawback though because of its surroundings, however, I drive through there every day for work and not a day goes by where you don't see hang gliders, para sailing, SUP boarders, dogs, runners, bikers... 

If I'm going to be working anyway, why not work in the field that's going to help my improve investing career.Now my main drawback is that I feel that there's going to be a large portion of time and money that I'm going to have to put into my license.

One of the few drawbacks to living in the country, I guess.)

The drawback as you've mentioned, is that they're only allowed to accept accredited investors.A fund that is offered via 506(b) however, is allowed up to 35 non-accredited, "sophisticated" investors and 65 accredited investors with a maximum 100 investors combined.

Relying on a website to do the entire set of of marketing will always have it's draw backs.

What are the advantages and drawbacks of this?

Are there any drawbacks that I should be aware of for only putting 5% down?

The best list source I’ve used before is Listability but the one drawback I had is that those lists have to be manually pulled by a member of their team so you can’t play around with them too much without involving someone else.

Floor models are definitely good, the only drawback they don't deliver those in my area.

If they do not tell you the drawbacks, talk to someone else..