That being said, while the intent is that most investors in a 506(b) offering are accredited, the sponsor can accept up to 35 "sophisticated" investors into the offering and still be within the rules.All told, private offerings are 100% a buyer beware investment.  

You could get a loan from a local bank or private lender to fund it

Investment Info:Single-family residence private money loan investment.

Class C/D neighborhoods with both Section 8 and private payer tenants.

Since you are doing new construction I would suggest making them private enough where guest have minimal interaction with each other.

Raising your credit score will get you far better rates personally as well as with private lenders for your LLC. 

In our still relatively limited experience, seller financiers are usually looking to get a higher asking price in exchange for the favor of the private loan. 

Or in low volume areas, a public/private partnership with existing child care centers. 

They would not be offering you a hard money loan (loan based on the hard asset) and instead they are lending to you as a traditional lender with private money.

There are always other options-hard money lenders, private lenders; but they are riskier and will likely have higher rates.