I have 150K to invest and i have no clue how to go about this. HELP!!

[J C]

I want to buy some rentals and hold and get the cash flow from the properties and im confused how to go about this. I was reading the Cashflow vs Appreciation thread for the longest and assumed that i can buy some cheap properties for about 25-30k and rent them out for 550-650. This is the part where in confused on. I have bad credit and cannot get financing. So do i just pay cash for everything? Or would be the smart thing to do would finance everything and hold on to the cash.. Im so lost. ANy input on the best route i should take?