Cash vs. Loans - How to get started without ton of spendable cash?

[Lance Korsun]

I'm new to the BP community, have introduced myself to a few local Jacksonville folks and I've been listening to the podcasts, reading the forum, etc, etc. One question I am still not 100% solid on is around Cash vs. Loan on your first go at investing.

For me, I'm trying to look at this as more of a serious hobby -- that if all works out -- could be my normal gig one day. I also want to start small (if possible) so that I get complete buy in from my wife and my 10 month old (yes, she has opinions too).

For the last few months I've been looking on Auction.com, homesearch.com (one other site I can't think of at the moment) for auction properties. Most if not all have been Cash Only offers. 

I'm a newbie, so I'm curious how do newbies get started without 50 - 75k laying around? Is it just patience for a property that offers financing?

Any insight would be great -- just trying to learn new things every day.

Thanks!