The advantage of Reg D over relying on the general exemption is (1) if you comply the SEC can’t come back and say you should have registered and (2) if your sued by a disgruntled investor you have a definitive defense, which means an attorney is unlikely to take an investors case on a contingency basis - unless fraud was committed.  

Again, large commitment of time, patience, and ability needed.The amateur of “semi pro” investor should realize that the professional investors (such as myself) spend ALL DAY EVERY DAY doing the above.  

Have you gotten any term sheets or commitments about this yet?

If I am wrong, then please clarify what is and what is not allowed in response to someone stating that they need a CPA.If I am correct, then let me tell you that these rules are enforced very inconsistently, and there're a few people who have been committing these violations repeatedly for months, seemingly without any repercussions for this behavior.

A JV structure is good for a one-off deal because the only commitment you have is to the investor(s) and that individual project or deal.So in part, the answer to your question depends on what your objective is. 

There are also a lot of people out there that will hate on getting coaching, some due to the bad actors I mentioned, but some due to a commitment to do everything themselves.

If you’re not using a 1031 exchange, you’ll need to account for this.Reinvestment Risk: Entering new markets and managing multiple properties may present challenges, especially if you’re unfamiliar with the areas.Alternative StrategiesBefore committing to selling, consider these options:Leverage the Equity (HELOC or Cash-Out Refinance):With a 3.1% loan, selling might not be the best first move.

What is the time commitment of owning a laundromat?

Totally understandable that you may have time to commit to it, as it is extremely hands own.

I agree that is will be a gamble as to how well it will do.Also, ask the owner if they will entertain partial owner financing to keep from dragging family and friends into this risky business venture.Maybe even rent from owner for a year with right to sublease to see how it goes before committing to a purchase.