30 relationship needed for 504 lending exception?(Columbus Ohio)

[Philip Cutting]

Hi guys, A potential private money lender is interested in lending to me but heard that someone has to have at least a 30 day relationship with someone before the state SEC will consider it under the reg D 504 exception. I'm familiar with the multiple touch concept, but not with a time period. And in this case there was no marketing. We found each other threw a REIA. The gentleman isn't an accredited investor, but is close or maybe even a sophisticated investor. He did intrigued himself as a private lender, but is cautious here in Columbus Ohio. And for good reason. Is there anything to this waiting period? I hate waiting, but if it's required, who am I to argue. :) Thanks Phil