It's typically $10k - $20k in legal fees to get this set up with an operating agreement to guide the investment / what the limited members and what the general member can and cannot do.Crowdfunding right now is mostly limited to Reg D 506 raises (online) limited to accredited investors although there is another exemption called Reg A that has been used that allows for non-accredited investors.

He is also looking to fund a large construction project for a 60+ unit apartment complex, and is seeking to form a syndication to help fund the construction.I'm attempting to help him by reaching out to accredited investors such as doctors and attorneys via phone/email to gauge interest.In reality, I have very little idea of what I'm doing, and am not sure if calling/emailing these individuals is kosher.Any thoughts/ideas/criticisms from those of you who are experienced in this area?

Depending on your financial status (accredited/non-accredited) you can look into different syndication offerings - which could allow you to diversify a bit as well. 

4.My investors will mostly be non-accredited but with basic financial sophistication.

For anyone out there, being an accredited investor doesn't make you a millionaire. 

Todd Powell There are many solid private placement opportunities still out there, especially if you are an accredited investor.

However we are an accredited and trusted company.

I'm referring to tax liens, cryptocurrency, microlending, etc.Lending is probably the best route if you can get into something like earnest money loans or fractional notes.Crowdfunds may be an option, but there are limitations on how much you can invest if you are not an accredited investor.It may be best to just plunk that money in some index funds and focus on contributions for a while.

If your money source is accredited and the lender putting them out is a doing so through a DRE broker/brokerage (most hard money lenders in CA) or is a CFL licensed lender, then you should be fine.

Then you look for accredited investors who each invest $50,000 - $100,000 or more until you hit your goal.