Hi Scott,
I'm in a similar boat as you are regarding financing and here are a couple options that seasoned investors have said I should take advantage of to pick up property with little or no money out of your own pocket:
1. [b]Private money: private investors don't follow the same set of rules and regulations that traditional lenders follow so this leaves the door open to allow for creative financing. You can syndicate (see link below) different pools of funds from multiple sources and channel them into the deal(s) you're looking to fund. Most private money (or even hard money) sources will work with you if the deal makes sense, even if you don't have a whole lot of experience. Just structure the deal in such a way where you have a Quit Claim Deed in place so your financial partner's risk is mitigated in case you default. This allows them to skip the foreclosure process and just have the title transfer hands to them.
2. [/b]Seller Financing: Often times sellers may want want to retain cash flow from their property without having to worry about the responsibility that comes along with owning the property. They will also be able to make some additional interest on the deal. This won't work in every situation but I've found that a lot of sellers like this idea.
Just keep networking locally as well. If you believe in yourself and your abilities and can get others with the cash to believe in you as well, there's nothing you can't do. Just keep at it and never, ever, ever give up. You can do it.
Here's the link for the info on syndicating your fund:
http://www.biggerpockets.com/renewsblog/2010/08/30/real-estate-syndication-3-ways-you-can-profit/
Hope this helps!
