I think a wiser course of action would be wait a few months (I'm currently saving 1500/mo, find an agent or partner,  buy something smaller, turnkey and go with conventional financing.

Also, build up your profile here on bigger pockets to include a company name, phone number, email address, website and call to action.    

And of course, if you get no action on the house at a price you think is worth it, you can always pull it off and re-evaluate.

There is some gray area about some of the no action letters from a decade or so ago and many companies are more aggressive with what they show in their OFFER (not sale) of securities to non-accredited investors.  

As Rick states this is pretty complicated type actions with much case law way back in the day that is available to research.

This particular question, nor these particular deal types are actually in my plan of action when it comes to my investements.

Buy the neighbor a toilet flapper for less than $10 to fix the problem going forward :)

I have heard a lot about this site from my local REIA here in Tacoma, WA and thought I'd take action and see what's in store.

see below... this is the site you want to go to.. its free.. and its the actual trustee selling the assets. the other companies just republish public records.I bought all my pre foreclosures =within 72 hours of the sale by door knocking.. that's when denial turns into action. you need to have your cash ready and a good relationship with the title co. and your authorization for them to sign to give to the bank so you can get a payoff from bank or Northwest trustee.. we were on first name basis with all the trustee services there is no reason to pay for this information just find out the trustee services and sign up with them.. they must by law answer your phone calls and or written enquiresnorthwesttrustee.com

If for some reason they default before you have the entire deposit what would your course of action be?