I actually finance some repairs on rentals for owners, which is just pathetic I think if you cannot afford to repair what you own.

It doesnt have to be across the country, you can go into Reno, NV or Carson City and find affordable housing.

I want to work like crazy for a few years so I can afford to invest in real estate and make some easy money each month.

Can you afford to speculate?

Truth is I couldn't afford to pay someone else to reno the whole thing.

I believe this is a good NICHE as there are many good people out there that can afford a home but can't get a loan due to recent foreclosure,short sale etc.

Sure recipe for disaster, in my opinion.Would also say a big resounding NO to debt - find an affordable market (and you don't have to limit yourself to your own back yard, the world's full of those at any given time, even if there's nothing around your home town at the moment), and don't give in to the temptation of easy money.Kenny Estes wrote a great piece about that one, and I couldn't agree more - http://www.biggerpockets.com/renewsblog/2013/07/24/real-estate-leverage/(all of the above is just my opinion and experience, of course.

After all this is a great opportunity that I cant afford to pass up.

Partnering up with someone who will provide you the capital to be able to afford a project in your area would be the best solution.

Putting a roof over you head continues to escalate while take-home pay declines - renting or buying.Someday, there must be a correction, especially for those who can no longer afford to live.