I was debating throwing in $25K, but his PPM has classic red flags/stay away when I read one of the earlier funds' PPM 1 year ago.Not promoting GC here but what's wrong with opening up a legitimate investing vehicle for non-accredited investors.

That wouldn't be enough to just decide to move out for FNMA, but with a legitimate employment issue you've clearly demonstrated an intent that met the loan covenants. 

There could be very legitimate explanations. 

Even though you are the owner of both LLCs, these are still legitimately separate entities and legitimate loans. 

The reps i've spoke to say it's a private money lender but I just want to make sure they're a legitimate company.

If the property is not depreciable (IE the allocation of the purchase price to land), then it can escape ordinary treatment, but it also isn't depreciable.https://www.thetaxadviser.com/issues/2011/apr/casestudy-apr2...If you find  a cost seg provider that legitimately carves out 60% of the purchase price of a building to short life property, let me know who it is  My experience is more like 20-30% on average of the building basis from an architect based study unless it is something like a Hotel/Motel or Mobile Home / RV Park.

@Sara Emmanuelle Dube No, they don't necessarily have to be "official" but it is more legitimate from the tenants point of view.

When wholesaling, do you find that having a website legitimizes your services?

There's legitimate growth to be happy for. 

A lawn service will also be able to validate your claim that the tenant is not watering appropriately, making the fee of neglect all that more legitimate.