we ran into this in FLA  a few years back when I had 4 starts and I exited that market.. permits  sub base all pretty tough for someone who is not there and already knows the systems hands down and has a devoted loyal sub base.. thats the key in my mind.

The first consists of the general exemption, which means the sponsor just complies with the definition as defined by the SEC.  

Following this post.

The usual way, but not the right way, to try to buy a rental is by finding a property on the MLS, where agents congregate, make an offer and then try to get financing to buy the property.

Appreciate the shout out @Paul De Luca!   

So are you saying the Mortgage One deal would be the way to go? 

Quote from @Natalia Perlova: Quote from @Marcus Auerbach: Agree with the last two posts.

The information contained in this post is not to be relied upon.

Nobody ever went broke over a duplex, I know this now,  but I have to admit I had some serious doubts about this when I started 16 years ago, I bought every course I could find, already on CD's, this was post cassette tapes lol, and I paid RichDad Education for a one year coaching program (turned out my coach was a girl in a call center without any actual experience). 

You're on the right track to reach out for help here and also to look to your area for potential partnerships.