So if you have not done the proper disclosures and then bring your client, you might get into legal trouble and potentially getting sued by the seller for undisclosed agency. 

Talk to a lender and get pre-approved for a loan if you don't have enough cash to make the purchase outright.

Do you still need to get approval on repairs, or can you just go ahead and do them?

I am slowly building up my net worth though I  have been approved for a commercial loan of $500,000 based on my net worth, but that won't get you much in the multi-family world.

We are researching this item.3.He stated that he was prepared to take whatever legal impacts this might cause him in order to take care of his family.I politely ended the conversation with a few statements about how I was going to have a weed company come out and spray the lawn, and left.I thoroughly reviewed the lease again.

If the PM doesn't have the security deposit it becomes difficult for them to legally fulfill their obligations.

Good for taking the first step the next steps are saving as much as you can and learning the math so that you can evaluate various properties once you are comfortable with that you can get pre-approved and start seriously looking to buy.

If nothing can be done legally, then I will live up to my word. 

If so, I assume I would need to have the funding pre-approved prior to making an offer so we could pull the trigger immediately? 

In order to keep your investment intent intact you would want to treat it as arms length and legal as possible.