Can we discuss investing "schemes"?

[Jennifer Jo McCallon]

I am curious about wholesaling, buying tax default properties, county courthouse auctions and "off market deals". I work with many first time buyers and meet potential clients at open houses who have a lot of ideas about buying real estate and I'm on a fact finding mission to dispel myths about investing. I have always bought the regular way- with an agent (or representing myself in the state in which I am licensed), on market properties and fair negotiations. 

My question is: What are the biggest myths amongst novice investors? What is the best way to succeed in real estate without a ton of capital for someone who doesn't own anything yet in a high COL area (like San Francisco's East Bay)?