Hire a contractor or GC with clear terms for execution and completion.Secure financing early, whether through cash, private lenders, or hard money loans, ensuring reserves are included for unexpected expenses.

The market we are in currently is ideal for such but we need the initial capital and assets (rehabbed) to begin execution on the model. 

In the report I plan on having a executive summary which outlines what the project is and how it will help the community.

The problem is that it's hard to execute all this at a smaller scale.

Securities and Investment Advisory Services offered through DFPG Investments, LLC.[1] Multnomah County Executive Rule No. 388, March 11, 2020[2]Marcus & Millichap, 2020 Multifamily North American Investment Forecast

People who did it wrong and weren't able to execute.

I would pay I/O for 5 yrs, and then ri-fi but you HAVE to hit your pro-forma to execute this plan. 

Quote from @Jake Baker: I recently purchased a property in Jacksonville, FL, and plan to execute a BRRRR strategy with a coliving model (renting by the room).

@Howard Cheng, the IRS does not care who the taxpayer for the property is. 

As of my last update in April 2023, the definition of an accredited investor includes, but is not limited to, the following:Income: Individuals who have had an income of more than $200,000 (or $300,000 together with a spouse) for the past two years and expect the same for the current year.Net Worth: Individuals with a net worth exceeding $1 million, either alone or together with a spouse, excluding the value of the person's primary residence.Insiders: Directors, executive officers, and general partners of the company selling the securities.Professional Experience: Certain professional certifications, designations, or credentials or other credentials issued by an accredited educational institution may allow an individual to be considered accredited.Knowledgeable Employees: In the case of private funds, "knowledgeable employees" of the fund are also considered accredited investors.Institutions: Banks, partnerships, corporations, nonprofits, and trusts with assets exceeding $5 million.By imposing these criteria, Regulation D is meant to ensure that all participants in such an offering are capable of fending for themselves or sustaining the risk of loss, thus requiring less regulatory protection.Under Rule 506(c), it is not enough for an investor to simply claim accredited status.