Vendors who make sales that are “per se” exempt must maintain adequate records to substantiate the exemption. 

You might have a positive cash flow of at least $200 apiece as a minimum.As you grow in experience and the quantity of units should make it affordable to hire a property management company and take several things "off your back" when you own a minimum of about 30 units in an apartment complex.   

They need to maintain a certain number of listings to stay at the company, otherwise they will get fired.

Thus far, I've called the PMs I found on google, and have yet to connect with any of them.I'd love to hear your feedback, positive or negative! 

If the buyer worked through and agent, more than likely they would not be in this position unless they missed a deadline for inspection, etc.

To All:  Positive:  You might source a great off market deal at a crazy low GRM:  like 3-5. 

I'm fairly positive you could even snag an unsecured loan from a lender and utilize that for initial investments.

Hi Jaiden, I do not know the Salt Lake area at all but the question I would have would be do you feel, in the current condition of the property, that a cash flow of $250 per month is enough to maintain the property.

You are in the perfect position to find these deals.1. 

Agency debt is also not going to be possible under $1M (as pointed out by @Mark Allen).Best bet: Either find additional capital partners, tap into bridge loans for short-term financing (while you sort out your liquidity position) or pass on this deal.