There were individuals asking for the 1BD for $1600 a month as well; however it was denied due to the seller wanting to sell.

Walk and talk, ask a simple question of everyone you meet (find these folks in public places, supply houses, stores, barber shops, where ever the public is permitted to enter)The question: "Excuse me, I am looking for real estate in the area, would you know of anyone with properties to sell?  

Over the next couple of years many players entered the market and failed.  

to enter , hence I am looking at Phoenix market.

If the banks find out that these companies are not complying, that could mean big trouble for them.I haven't run into any companies at this point that will allow an unlicensed individual to pull comps, take the photos or give their opinions. 

I've spent a lot of time and money trying to work with a few individuals who ultimately did not follow through on their end.  

I didn't let this stop me, I immediately entered it in my pipeline and started tracking the deal on a weekly basis by setting follow up reminders in my calendar.

This site is great for getting answers to your questions from a solid community of professionals and seasoned individuals in the industry.  

I use this format: PETIOProperty - type, description and rough as-is and ARVEquity - value less recorded mortgages and liensTitle - Record owner, entity or living or deceased person(s)Interest(s) - if owner is a deceased individual, need to know who legal heirs areOpportunity - specific ways to benefit, such as buy, fix and sell, or fix and rent, etc.You'll need a working knowledge or someone who can research title for you.

If you're the only member, then you are the manager and there is where your personal liability can enter the picture.