I think the point was that you don't necessary need wealth (assets) for which the threshold is $1 USD Million excluding the value of your primary residence.

You can instead have a high income (the $200k mentioned) and zero wealth. I suspect that many more people qualify as accredited under the income requirement than qualify under the asset requirement.

I suspect the opposite

http://money.cnn.com/2014/03/14/news/economy/us-millionaires...

Yes, except in places like SF. That sort of income wont afford you more than a 1br (assuming you want to buy.)

Yes, though in San Francisco it isn't, because the cost of living is so insanely high.