I am also immediately suspending any further activity in real estate related spaces, including mentoring, coaching, commercial project development, etc.  

So I found a mentor on Craigslist turns out to be a broker also.

Majority of the new people come to this site looking for hand outs or a mentor to show them everything and when no one does they get dissuaded.

Here is an example:Find a deal at 50-60% of ARV, tie it up, utilize equity in another asset as a collateral assignment temporarily, spend 2-5% of ARV to fix up or retenant the property, then receive up to 75% of ARV back (cash out refinance) thereby "netting," you cash back ,  allowing you to acquire a property, and provide you cash flow (depending on your market).This would be a 0% down deal or negative down deal since you're getting cash back up to 75% of ARV.Yes you need collateral but, not necessarily since a more experienced individual with collateral or high net worth person could assign collateral on your behalf (perhaps a mentor).So by combining creative techniques, your own or assets of others, deal finding ability, and knowledge of the banking products and how to converse with bankers you could create and print money out of thin air (well you do have to invest your time of course).

hi frank, based on conversations with my mentor,  it's good to put something down to show intent even if its only $10.

Every thread I've found where a REI new to Lease/Option is requesting forms,contracts,memos,etc. etc. to do these types of deals, some REI Guru half a$$es the answer to the question and pitches his Coach mentor program.

thanks for all the great feedback guys i will definitely keep them in mind. to answer some of your questions though, i'm looking to invest in buy and hold properties. cashflow is my #1 priority. also, in terms of financing it i would either do a conventional loan or private loan on top of what i have saved up.also, is there a section on this site where i can find potential partners and or mentors?

So is there anyone that lives in my area (Westchester County) that would be willing to mentor me?

Additionally, we belong to a very active local REI group, which is where we found our mentor.       

Then find a mentor doing what you want to do and learn from them so that you can meet your goals.