Check for a local chapter of Community Association Institute, and take advantage of their seminars and resources to learn how the HOA should be operated (again, often, Boards are NOT fulfilling their fiduciary duty).

What institution did you use?

Pretty much all the institutional lenders use them.

Rule #3 - start small and make a smaller purchase from a broker who normally represents larger deals, you must prove you can actually closeRule #4 - many commercial brokers are reluctant to share info on big deals as they have a short list of institutional buyers who can take down large units 200+ quickly   It takes time, effort and an example of your ability to perform (or your client's ability to perform) this is a whole different ball game from residential. 

Have you talked to a lending institution?

Kingsley - In my opinion, you should develop and look for both institutional as well as private lenders.  

Does it seem that the listings that are cutting prices quickest are these institutional buyers? 

There is a reason smart money (institutions) are placing big bets on real estate.Cash flow is unpredictable, you could get a bad tenant who damages your property, you have to evict, eviction moratorium, major repairs, etc.Appreciation and cash flow have an inverse relationship.

You sell your first one then you have both capital to do 2 or 3 more and a track record with your financial institution.  .       

Also are private money-lenders regulated by the  government like other lending institutions?