If anything buy a dumper and force equity by rehabbing it.There are a multitude of strategies you can use.

I fully understand leveraging and the multitude of other factors that go into real estate investing and creating an ability to scale, but I also do not like the thought of emptying the back account to try and acquire a property.

I hit the web and stumbled across biggerpockets i have been stalking the forums podcasts blogs and webinars as much as possible but hesitated to reach out. well i couldn't have found bp soon enough because i have now stumbled upon a partnership that is willing to  finance a small multi family, and put the title in my name, in exchange for 50% of future profit.needless to say i am very nervous as a couple months of reading in no way make me a qualified investment vehicle. but i am not willing to let this opportunity to enter the field of my dreams disappear. nobody in my extended social circle has any viable knowledge in real estate. so hear i am reaching out to the multitudes of knowledgable investors here on bp. i am open and grate full for any advice and criticism on any topic and would really love to find someone who understands my market.

@Austin McConnellIt could be a multitude of issues but we would all be speculating.  

Also, check out the BiggerPockets podcast to brush up on your lingo and discover a multitude of other ways to make money in real estate besides just flipping houses.

We don't show occupied rental properties to potential tenants for a multitude of reasons.The tenant will make it difficult to get inside.The potential tenants will have a hard time looking past the belongings of the current tenant and envisioning themselves living in that space.

Here's some further reading on the subject.http://www.lonestarlandlaw.com/Lease_pur.htmlI find the following conclusion from the very website you mentioned very much to the point:" Residential lease-purchases for longer than 180 days are no longer a feasible strategy for investors because of the multitude of requirements and the potential liability for doing them improperly.

@Logan SherwoodThere are a multitude of ways to make money is residential real estate.1.

Yes, they protect the buyer, but no seller wants to enter into a contract where the buyer can back out for a multitude of reasons when they don't have to.  

There are multitudes of people selling kitchens on craigslist.