Noob questions on starting strategy

[Andrew Shaffer]

I am trying to find the best way to get into real estate investing with the situation I am in. My credit has taken a hit from being winter in the construction business. The current rental property I am at is right off the main road that feeds the back part of the neighborhood. My kids are now 3 and 1 1/2 years old. The wife is worried about this summer because of the kids running off near such a busy road.

From what I know a for sell-by-owner or lease option could work with my credit being low. I will be using taxes to get caught up and to use for the down payment. The goal would to get the house so the kids can play safely but also be able to use the equity from the house in time to purchase first rental property.

Any input on the strategy or even another strategy would be much appreciated.