We have been self-managing another rental out of state and so far, it has been a good experience. 

I'm trying to gauge your level of experience as I want to make sure my opinions/suggestions about STL S8 properties relate to you.

The fact that you have already owned and sold a rental property gives you a great experience to start from.In terms of the best place to invest - that is whatever place meets your criteria, goals and investing style.Personally flips have not been working as well for me lately, but when we get the right BRRRR deal those are still working well.

You Can Only Have 35 Non-Accredited InvestorsRule 506(b) allows an unlimited number of accredited investors but restricts you to only 35 non-accredited investors.However, there’s a catch:Non-accredited investors must be financially sophisticated.They must have enough experience to evaluate the investment risks.From the SEC:“Securities may not be sold to more than 35 non-accredited investors… [who] must meet the legal standard of having sufficient knowledge and experience in financial and business matters to be capable of evaluating the merits and risks of the prospective investment.”If you’re planning to include non-accredited investors, make sure they qualify—or you could be violating SEC rules.3.

Thank you for posting that very detailed experience.

Use it to gain some experience as a landlord and in two years leverage the equity to purchase a duplex.

Investing close to home allows you to gain hands-on experience, learn the ropes, and be more involved in the day-to-day.

Quote from @Shayan Sameer: Hello,real estate investors,I have a question for those with experience pulling home equity to fund new investments.

How has your experience been so far with out-of-state investing?

I've heard people have had a great experience working with them!