We never considered this a bad thing because we could afford it (and have enough of a safety net to cover a market downturn) and knew that San Diego real estate has an excellent historical track record for appreciating over time.

It can end up bad.

Fortunately, I've never had to take out student loans or apply for a credit card in the past; unfortunately, this leaves me in the position of having zero credit whatsoever, it's not bad, it's just that I don't have any at all.Is it possible to get any type of FHA loan without credit?

I found ten new properties being built, looking badly, investment property for sale, and a building that Whole Foods built around that is renovated and for sale now. 

I think that's what all dream about secretly - buy a delapitaed building in a bad area, but after they built the new shopping mall, highway etc it all turnes around and now we own a property in a really nice part of town.

Another aspect is the terms of the loan and being able to place a low down payment on a commercial property with a fair interest rate. 6% might not be so bad with in the next few years. 

(that was also a bad idea)Since I was 75k over budget, the bank wouldn't advance any more funds until we were back under budget... but I didn't have any extra cash.

Then if we do have a bad downturn, I  will be doing the foreclosing instead of getting foreclosed on, and picking up properties at pennies on the dollar. 2)  for equity investments,  avoid short and medium-term debt.  

@Ayodeji Kuponiyi Sorry to be the bearer of bad news.

Keep an eye out for homes that are in bad shape as it may indicate a tired owner/Landlord.