On the other hand, someone with no money and lots of debt but has the right skill and knowledge can do just fine.

Depends on the individuals skill set/ knowledge.For me it was figuring out the local markets.

Guess what, I wanted to make myself marketable and wanted to gain more skill so enrolled in school to get more education.

Account Closed mentioned in his post, I believe it all depends on how well you know your market, how widely marketed the deal your chasing is, and how confident you are in your negotiating skills.

I am getting ready to start marketing to park owners and am creating my own list but don't have much skill at creating a spreadsheet to handle everything.  

In addition, your skills as a plumber can save some money on a flip project for instance. 

Old notes may not be collectable and you'll need more due diligence in the legal aspects of the lien.Jr. notes are pretty much a door opener as you have priority to payoff the senior lien and if the total loan to value is favorable you can manipulate deals with the borrower, but again, foreclosure is usually a last resort and profits may be limited to the discounts.I have said before buying notes is pretty easy, it is when you know what you're doing, but you need more than RE knowledge, you need to sharpen your valuation skills, legal aspects, title issues, foreclosure proceedings, safeguarding collateral, repairs/construction aspects and the market of RE as well as the market for notes

After listening to many real estate pod cast by BiggerPockets, I’ve become a big fan and I’m convinced this is the perfect place to get started.Over the years I have acquired various skills including construction, excavation & equipment operation, masonry, mechanics, spreadsheets, communications, and office management.My strengths however are in planning/creating consistent & standardized workflow as well as excellent communication and networking skills.I'm a "Go-Getter" and I recently transitioned to a stay at home dad due to a concussion injury.

I have managed to get ahold of some money so I may end up doing my first deal soon.I wont go into detail but I've been working on my negotiating skills.

All you need is a solid plan and SKILLS!!!