However, the neighborhoods that I'm interested in are more expensive than what I can afford at the moment.I was thinking of buying a cheap uninhabitable foreclosure, doing a complete demolition, and building a brand new *modular* construction. 

I'm going to do a delayed mortgage and get the money out that I can't afford to have tied up in the place.2.) 

If you can't afford to sub out some of the work and have to do it all yourself, you are in a bind.

It affords you the opportunity to use your own deals as verifiable comps to raise the value of your next deal.

Some may see this as targeting people in a financially low position, but if I am helping them sell a property that they cannot afford the taxes on, and putting cash in their hand, I see that as a win win.

You have more house than you can afford right now.

Right now i have a very good credit score in the 700s but very little capital to invest with and I doubt family / friends would or even can afford to loan/gift capital.

Seriously, I am in a financial position where I don't need the revenues from selling seminars, I can afford to not sell such.

This is my major motivation behind my real estate investing, To create generational wealth to pull my family above the poverty line through long term affordable rental investments.

I suggest you study the process very carefully before committing money you can't afford to lose.If you haven't search and examined title before it's not something you just walk down to the courthouse, or get online, and start doing.Check with a local title company to confirm their requirements for issuing a policy post sale.