There have already been a lot of good suggestions so I'll just add my piece of advice for someone new to REI; stay active, take action, and never give up.

There is no substitute for action backed up by a well-thought-out plan.  

Banks are settling rather than bearing the costs of continuing with the foreclosure action.

If you are serious about taking action and not just romancing the idea of being an investor, then you could, as mentioned earlier, use credit card financing for all or part of the purchase price.

Take MASSIVE action.

They're full of actionable content.Happy Investing

Who knows, If your a good negotiator you may be able to get a piece of the action with none of the real risk.

Then set-up actionable steps to reach whatever goal you set for yourself.Start small, grow with confidence and know that you will make mistakes.

And, never let planning be a substitute for action and doing deals!

Continue to explore what the niche and go into action!!