While many agree the accredited status is high, there are reasons for it (namely to protect everyone involved, especially the investor) and the SEC has also allowed non-accredited/sophisticated folks to invest in these types of deals through a different structure - the 506(b).It is 100% okay for you to reach out to Sponsors or other people putting together the deals you're referring to.

I am shopping around for Insurance for the property and am running into some higher numbers then I expected for the most part.  I

@Jake Parks - If you're pooling money together and providing a return for people/there is an expectation of profit for someone else and that other party is not involved in the decision making/management of the deal , then you are creating a security and the answer to your question is a resounding yes.The big thing you have in your favor with partnering up with family and friends is that you have a relationship with these people already and that's the biggest thing that the SEC is looking for.

It was quite the challenge, and involved a lot of extra management time.On anything I do that is outside of affordable housing, part of my screening process for new tenants is that they have to apply online.

That would KILL your IRA and create huge tax penalties.There is a retirement plan based structure know as a Rollover as Business Startup that allows you to take existing retirement funds and use them to capitalize a business in which you are directly involved. 

If not, each party will be taxed based on their percentage of ownership/ profit. ( not giving tax advise ).Happy InvestingDerek Dombeck

Two different agents involved on this one.

I am not involved in wholesaling at all but anything landlord/property management is my life.  

There’s some work involved, but it’s certainly less risky than doing flips on Maui in my opinion. 

The hard part is finding enough people that get along with each other that they can stay under the same roof together.