My strategist explained possible implications could be (1) longer initial vacancy (~60 days), and (2) potential for PM team to not perform well (as there was not yet a proven track record of their work with RTR).After much discussion, we pivoted to a townhouse in Dundee, FL.

If you are having other investors to steer clear that might explain why the property is still on the market. 

However, as curiosity prodded, I looked into the degree that it is prohibitively expensive to consider just filing as a security anyway, irrespective of the pros and cons.Basically, I searched for "what are the costs for registering a security with the SEC" as well as "what are the costs for registering a syndication as a security with the SEC"Most the results produced explained something to the extent that the fee was about 150 bucks per million offered, without any other information on what would validate the explanation that filing a syndication as a security is prohibitively expensive.

Once verifying see if you can talk to the buyer directly & explain the 90-day flip rule and see if the buyer is willing to wait 2 weeks before submitting his offer. 

Then, I would share with them how you manage properties and what your expectations are for them as well as you - essentially explaining how you work with people renting from you.

In this post, I’ll explain why private lenders are vital to structuring successful JVs and how both parties, real estate investors and private lenders, can benefit from collaboration.

Maybe you did not explain it right, or maybe they want to see you succeed on your first deal then will throw money into the investment the next go around.

Would you explain the con of them being 2nd position? 

Whether you’re dealing with non-payment of rent or other lease violations, this resource explains what landlords need to know to remain compliant and protect their investment. 

As explained in this article, seller financing works best if you understand the needs of the seller.https://www.biggerpockets.com/blog/seller-financingReally dig into this topic and ensure you understand it and are prepared to use it.