You Can Only Have 35 Non-Accredited InvestorsRule 506(b) allows an unlimited number of accredited investors but restricts you to only 35 non-accredited investors.However, there’s a catch:Non-accredited investors must be financially sophisticated.They must have enough experience to evaluate the investment risks.From the SEC:“Securities may not be sold to more than 35 non-accredited investors… [who] must meet the legal standard of having sufficient knowledge and experience in financial and business matters to be capable of evaluating the merits and risks of the prospective investment.”If you’re planning to include non-accredited investors, make sure they qualify—or you could be violating SEC rules.3.

Proper underwriting - this includes an appraisal, loan app and full underwriting to comply with CFPB regulations.2.

I’m not sure if this is for you, but...If you’re serious about leveling up your real estate game in 2024, there’s no reason not to try this.

I don't remember the exact cost when I did it but I remember thinking it was cheaper than expected.I didn't see a comment mentioning that you should just include utilities in the rent and increase it based off that so I'll be that guy.

I had specifically asked for numbers including mortgage payments and they emailed to me.

That should really be the deciding factor...is it necessary and a large enough project to include the permit process?

However I have done them in multiple States including Pennsylvania and South Carolina, and what I can say is that it is a tool in your tool belt. when you come across a deal that makes sense to make this type of offer you can do it. the laws in your state make it difficult for you to do these types of deals I suggest either don't do them or pick a virtual market in which you can do these types of deals.

But I would ask for advice and then follow up later with a thank you which includes how the advice worked out. 

You want an investment that pays for itself, including mortgage, taxes, insurance, maintenance, and even some money set aside for a reserve to cover vacancies and capital expenditures.

Key areas with strong rental demand include Central Phoenix, Mesa, Tempe, Chandler, and the West Valley.