But strictly going by the numbers, it's borderline OK, depending on the type of market.

This isn't a bad thing if that fund raiser is doing strict due diligence on the sponsor, has done multiple deals with them, etc.

(I’m not sure of the laws/regulations outside of the Las Vegas valley like Reno/mesquite or pahrump.)Are you currently working?

Quote from @Andrew Steffens: Usually there is not a way to "get around regulations". 

The numbers I’ve been running look really promising from a short-term rental (STR) perspective, and the area seems to have favorable STR regulations—or at least a lack thereof.

Think lakefront properties in small towns, destinations with new attractions (casinos, amusement parks)...Another idea is investing in properties suitable for accessory dwelling units to create dual-income setups, especially in cities with relaxed ADU regulations.

No idea who regulates a crowd funded venture...isn't that idea that many, many people put in a little bit of cash to create a large pool?

Do you understand the expenses and regulations involved? 

We're working on figuring out the local regulations for ADUs here which are a bit more confusing as it's already a duplex and not just a single family.

All these are great investing routes to take - if you were to go the traditional residential rental route, these often offer more stable cash flow, while Section 8 properties can provide guaranteed rent, though with some additional regulations.