If someone is buying a 4 unit for $600 that’s doing no one any favors except maybe the seller and the agent, the market is high enough that would kill any chance of a decent priced property.

@Jay Hinrichs there is always an exception to the rule. :)

I guess I did not realize I could participate directly with a sponsor as a non-accredited investor, sort of tricky because they can't advertise to me, however I'm not aware of a place where I can go and seek them out (except maybe here).

Also not interested in the Delayed financing exception as it takes 25% down, has anyone quit claimed a property from their LLC to their personal name to avoid this?

No exceptions, unless you are okay with it being stolen.

The only exception I'll make is if I can find a condo or a one/two bed house that would allow vacation rentals.

I was reading about it and it seems extremely similar to the 506b except has a limit on amount raised.  

Single-family home sales declined from February 2016 in many cities surrounding Austin, with the exceptions of Buda (up 30 percent year-over-year to 26 home sales), Cedar Park (up 20.7 percent year-over-year to 70 home sales), Leander (up 8.8 percent year-over-year to 62 home sales) and Austin (up 6.4 percent year-over-year to 617 home sales).

He doesn't know much about real estate, neither is it his area of expertise, so he will be bringing nothing to the table except money.

The water bureau will make exceptions for freak bills, at least as it relates to setting the yearly CCF sewer use.