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.

One concern that I have is that I need to be able to sustain this during a downturn.

I actually think your company, Drive Home Capital, does have a good track record in the space.

If you buy in such a city, you are almost guaranteed to have limited appreciation and rent growth.If a city has significant and sustained population growth, then the current housing supply will be insufficient and prices will rise until the demand (the number of people willing and able to buy) roughly equals supply.Rental rates are closely tied to property prices.

If you're local, you can start by really learning the market by driving the neighborhoods, studying recent sales, and getting to know what areas investors are targeting.

Yes, even during the festive season, the real estate world doesn’t take a break.Let me share two stories that drive home the importance of acting quickly in this business.The $40k Christmas Miracle: A few Christmas mornings ago, one of our rockstar team members, was enjoying some holiday downtime with his family.

It takes me 10~ minutes to get on Lake Shore drive, then it's pretty easy to navigate the city. 

It drives me crazy when I hear these stories preventive maintenance is what should be practiced and discussing all avenues of the deal and the borrowers docs in advance.   

Landlord drives by on the 1st of each month and collects.

Otherwise, his rental portfolio is sufficient to sustain him.