As a practical matter no attorney will pursue the case on a contingency basis under these circumstances, so the usual tatics of some investors of suing others for bad investments are eliminated.So, a private placement does not have to occur utilizing RegD to be compliant with SEC regulations, but the advantages of Reg D are such that for all but the smaller offerings it may be worth the time and cost.  

Been so long that I've dealt with this that I don't dare guess at a cost, but take a look in the phone book.

I would dare to say that most of our peers here at BP would recommend starting by reading @Joshua Dorkin and @Brandon Turner book titled "The Ultimate Beginner's Guide to Real Estate Investing" and to be honest any all of the BP books.

That’s not what they folks are being taught though and I dare say that is not what the folks teaching it have done.   

The investment would need to be passive and we wouldn’t mind giving up some gains by hiring a property management company.We are all good friends and see this as an investment opportunity as well as an opportunity to do something different (and dare I say fun) together.

If you only provide a W/D hookup, then any issues with the W/D are on the future tenant who will bring in their own equipment(and thus be required to service it.)

sorry, also meant to say that I live in NYC and as tempting as it is to want to list my apartment, I wouldn't dare.  

Tell him I referred you if you dare.

Cashflowing $300/month on each property is... dare I say, too ambitious.

lol We can restrict our little guy investor revenue, but don't you dare touch the city's.