Buy very cheap homes in my area, avoiding the worst areas, which I am fairly sure I don't want to venture into....still fix them up nice, not super nice ....and get pretty decent ROI (I would think) but then I would also think I would have to deal with more turnover or tenant instability....I am really thinking in this direction, as I could buy with cash and avoid financing. 

I don't really want to risk the due on sales clause resulting from a subject-to transfer, and getting a hard money loan to buy the house outright seems like a waste if i can instead setup some type of joint venture. 

@Michael Lee Thank you so much for replying and good luck in your new venture as a real estate investor.

I have a full time position elsewhere in a completely different industry (IT) and I want to do this as a side venture that will eventually replace my current income.Do you think I am asking for too much based on this?

I don't think I'll be venturing into this area but was curious. 

Good luck in all your REI ventures. 

Good luck with all your REI ventures. 

Wish you success on your real estate venture!

This would connect you with like minded individuals in your area and might connect you with people willing to invest in your ventures.

The acquisition costs are unsecured and you lose a lot of benefits of investing in a tangible asset that you actually own and control.