I work for a small marketing company that has asked me to develop a PHP application to send emails for their company without getting blacklisted or emails showing up as spam
You're company is willing to buy hardware, but not pay $500 to have a company do it? For doing large mailings, you can use SwiftMailer. It has certain features to support bulk mailings and is written in PHP.
However, not getting blacklisted or put in the spam folder has nothing to do with hardware or software. You need a valid domain and valid emails. Put "V1agra" in an email an it probably won't get received by anyone, not matter what you are using.