I do agree buying power would be greater through an institution.  

Our power team. 

It has power, water, cable and telephone.

It is a crappy job, to be sure, but not rocket science ... if you are reasonably familiar with plumbing and getting to it won't require busting up concrete you might supervise some medium skill handymen to do the job for much less.

That accounts for at least the last 25 years that I've been in the game.Winning bidders post 10% certified funds and must close with normal escrow period of 30 days or as contracted, however limited power sales require court confirmation and are subject to an overbid formula.

So today i was up on Zillow and saw that my next door neighbor was in pre-foreclosure, so gather all my will power and i went over, knocked on the door and say and basically said hey i want to buy your house for a low price. so we talked and he's willing to sell me his house for what left on his loan. which he says its about 25K.

hi bobbi. the answer to your question is yes. but with limitations. the power in this business lies with OPM. other peoples money. the more money you borrow, the less of your own you have to invest, the higher your rate of return will be. that being said, yes you can invest without good credit, but it will be harder. you will be forced to deal is smaller amounts, smaller deals, etc. but, that also allows you to make deals on the houses that no one else wants, because those with good credit or money are not buying the houses that on one wants. trust me, i have made and continue to make money buying houses that are the underdog. i personally have bought a house for $500. the most i have paid for a house is $4100. no, i did not forget a zero in there. find a local tax authority in your area, ask them what they do with the houses that are foreclosed on by them for back taxes. chances are, they auction them off to the highest bidder. most of mine have come to me this way. usually, there will be one that no one wants, and you can get for pennies on the dollar. this would work for private owners too. these houses will require you to know a lot of rehab work, but you get a damn good education along the way too. ok, lets address your credit. how did it get that way???

“It will result in the exact opposite of what we’re trying to do.”Landlords’ associations objected to the bill in the weeks leading up to the vote on similar grounds, saying that adding more than a week to eviction periods would cause property owners to risk missing their own mortgage and utility payments.Along with extended wait times, the bill also proposes giving new power to judges, who would be allowed to temporarily block evictions based on factors including the tenant’s payment history and whether they had made a good-faith effort to pay.A summary of the Washington eviction bill Extends the 3-day notice for default in rent payment to 14 days’ notice for tenancies under the Residential Landlord-Tenant Act.Requires the 14-day notice to be written in plain language and include information on civil legal aid resources available, if any, to the tenant.Extends the mandatory notice period from 30 to 60 days when landlords propose a rent change amount.

Learning can be FREE.I would take a little bit of that money and1) start, grow, season a CRE favorable LLC to excellent credit2) make as many contacts and spend a little learning CRE3) grab cash/rewards bonuses on the way as you build two credit profiles to excellentthen in the 3rd year after you have tax returnsfind your 1st CRE deal after this market cools...This plan could be the most powerful $500 you spend in your life!

What it will hurt is your buying power.