If you have plenty of time and no money you can knock on doors and wholesale a deal or find a motivated seller to get creative.

Hi Vanda your excitement for investment is motivating.

@Chris Piper  i know this sounds cool.. but its totally illegal for an agent to give out their MLS code.There is much private information on these systems.. and who is to know if your not a criminal of some sorts and use this information to case homes and or other bad stuff.Not saying you of course but you get my drift..

It would be owner-finance in the sense he offered I simply take over his payments with US Bank - sort of a "wrap" loan agreement...He is offering to sell these to me for what he owes.

It will only motivate you to work harder and achieve more.  

The Starting Out forums can help you out , you'd read a lot of motivational stories how some members got started and got the ball rolling. 

I've already sorted through some basic numeric parameters via excel.  

See what had happened was that it was a HUD property and as an agent I can't bid on HUD properties if my broker also lists properties for HUD (They think we have some sort of hidden advantage).

Why don't you ask for some sort of credit from the seller at closing that will give you enough cash to replace the roof right after closing?

Seller still lives in the home thus, may not be very motivated to sell at the moment.