I was told that if I were going to live in the unit I should only get interior insurance.

Those prices range from $800k-$1.5M depending on the specifics but the income increase is as much and the cost to own is slightly lower because insurance, maintenance, and utility costs do not go up linearly on these making a bigger margin for you.  

If one meets the requirements of an accredited investor, do they go register somewhere or how does it work?

I’m enjoying devouring the wealth of knowledge that gets shared here by all the go-givers on the BP platform and I am very appreciative for your sharing your experiences.

I know there are many avenues to go down for funding, but I am looking for good advice on the best approach for this, and if using investor money is the best way to go, what is the best way to set up the payout back to the investors, via.. partnership or ROI. 

It won't really matter until you try to secure another loan based on what you're going after.

Taxes are likely to go up in the future due to government entitlement programs.

When we go in on deals together in our investment club, we typically aim for mid-teens or higher.

Thus the greater fool theory.Personally, I steer away from D class properties and try to go to C+ to B- areas where you get good hard working people with families that want a safe place to live.  

Any suggestions, tips?