The sponsor if they even consider allowing you would be a huge red flag for me knowing if they will accept non accredited investors what other rules are they breaking. 3.

for me. 

Written by attorney investors, it's full of practical advice about the management of investment property, has sample forms that can be edited, and - most importantly - tells you what your primary state laws are and where you can read them.

Long distance investing/managing is an obvious for me since I move every couple years, but I retire from the Navy in 5-7 years, and I'll finally settle in one place. 

For me and my goals, I focus on long-term investing in residential single-family homes in Florida and Georgia.

I know a cost segregation study would be too expensive for such a small amount of property, but is it permissible for me to estimate the value of the components on my own?

What's in it for me?

That will start to help form your strategy.  

Consider forming an LLC for liability protection or an S-Corp for tax efficiency if flipping frequently.This post does not create a CPA-Client relationship.

For me it's family, friends, and the food.