They should be helping you and providing guidance and value throughout the process.First you need to define the sophistication level of the tenants (National, regional, mom and pop).

This includes "everyday people" who aren't necessarily sophisticated with real estate -- they're not going to fork over their money if you don't have a track record.

The challenge right now is two fold; finding a seller to sell below market is much harder with sophisticated commercial investors, and also once an opportunity is found determining current value is much more difficult given all the uncertainty in the market.

506B allows you to utilize 35 Sophisticated & unlimited Accredited  investors.Hope this helps.To Your Wealth,Dino

Im finishing up 3 sfh’s now and have 4 guys on are payroll.

If the offering is open to accredited and unaccredited, but sophisticated investors under Regulation D, Rule 506(b), then he would not have to be accredited as long as he would qualify as a "sophisticated" investor, which is a subjective determination based on such things as past investing or work experience, or education. 

We split the profit as a percentage of ownership- we are an LLC being taxed as an S-Corp so we are receiving a payroll plus distributions.

While others might be payroll expense. 

where the word bird dog is now "property locator" (now that sounds more professional and sophisticated).

Some of the more sophisticated wholesales have been pulling title themselves earlier in the process to prevent probs down the road so ask the wholesaler if they have title pulled.