That is something that can be overcome...BUT...when you walk into a home and make promises you intend to buy a house that you really do not intend to buy, that is dishonest at best.

In order to pursue adverse possession in California, one must have pay the tax note for the property for at least 5 years, and have open and notorious possesion of the property.

You will need strong liquid reserves to overcome your credit and experience.

;) Guess I will have my hands full...Its all fun , older houses present challenges , but nothing that cant be overcome . 

What are some of the challenges and how could you overcome them. 

How are you working to over come them?  

Adequate liquidity levels held by large and complex servicers will minimize the likelihood that financial downturns have an adverse effect on these entities, and provide regulators more options in the event that severe problems necessitate regulatory remedies.

Thus looking for old and tired properties and figuring out new ways to use it, new approaches to development, or how to overcome long standing problems can open new doors of opportunity.

I would like to buy my first property with a low money down option (yes, I'm reading @Brandon Turner's book), and need to overcome the initial hurdle of fear and uncertainty as I dive into this new world of REI.

So far I think it does a good job of giving information but I skipped the first few chapters that are generally take action overcome your fears type stuff because I just wanted more info.