I currently do not have enough established credit for bank financing, I met a local investor willing to do a lease purchase agreement for several of his properties.While having a conversation with my dentist, he said he was looking to also get into real estate investing and would be open to partnering.

It's a sort of a gamble still because the economy is mostly bolstered by State employees, and prices are relatively high still for decent properties.

@Rolanda Eldridge We love raw land.I use landwatch, zillow, trulia on a regular basis and sometimes eBay to establish comparison values for vacant land.  

@John Harrison In my area the HUD FM rent is established as the same for a 3 county area.

You could itemize the work into specific areas such as painting, electrical, carpentry, roofing, drywall, flooring, appliances, caulking, plumbing, trim, siding, etc. in order establish the amount of work involved in the restoration.

When you finally find that distressed property, that has been managed poorly over the years, you will have a network of people that can't wait to invest with you because you have established yourself competent, and trustworthy with them.

Ps The creative buyer's agent I had found, i had established a working relationship with him and ended up purchasing many more properties with his help, so he was getting a good amount of  money each month, even during snow season, when the other agents were starving.

I would like to get into buying when I have established credit.

Yea it's supposed to be 70% LTV I was being rushed out of the house by the wife and have been dealing with too many numbers today.X out the "selling a note" we have established that I will be creating one.There's a nugget!

A few other things you will need are an established realtor that will list the house at the right time and sell it fast and check comps before you buy, a backup contractor in case this other person doesn't follow through or needs help finishing in a timely manner and possibly secondary financing in case you need more money just to finish and protect your initial loan.