Those that do succeed with this method in my mind are already successful at what they do for a living.. they already have good credit have cash to invest understand basic business etc. 

As stated above with the capital you have established for yourself via retirement accounts there's so many directions either or markets you can choose.Taking a step back and thinking more methodically about your investment goals will be a good start also.

However, I recommend that you don't touch this method with a 10 foot pole unless you are deeply experienced.

Those methods are not available for real property.

And at the end of the day if you looking for ways to pull money out of the property there are methods now that will allow you to get a no document, non recourse loan as high as high 60% LTV. 

The same metrics and methods you use to measure the performance of your business(es) can be applied top your real estate business. 

Because, as you grow, whoever you are growing with will have their preferred method of acquisition and protection as well.Rafael

If you're targeted in your search and deal-finding methods, you can get your first deal without a heavy expense. 

I've had places with flaming code violations that managed to sell and close because the appraiser didn't know and the town didn't check for those specific issues (I'm thinking specifically of furnace issues).If they're just backyard projects, they may just need to be cleaned up and made safe/secure before closing.  

I also need help painting, carpeting, cleaning, and general handy man work.