If things go bad you can walk away and lose nothing.

If they don't bite now people have a way of changing their mind the day before an auction and they realize they are going to lose the house.

Good luck on your venture and see you around BP!

Turn key single family rentals are a hard way to lose.

Make sure you can get into a conventional loan or you can flip it without losing money.

When conditions get like this, in any type of market, it's a signal that a significant number of people are going to lose money - whether it's from buying stocks that look like they'll just keep going up, or buying houses that are in a bubble. 

There are lots of Joint Venture programs out there; Dani Beit with Simply do it and John Majalca with www.texascashflow.com; just do your homework in getting investor references (not the people who work for them like lenders or title companies), check them out if they say they are realtors (check license), google their name, phone and emails (make sure they are not scam reports about them.

I may be a newbie but I consider myself trustworthy and eager to grow.Thanks and success in your ventures!

Then I was hooked bought a rental jointly with an older guy who was a realtor because the bust made him lose his construction company. 

This protects you if the tenant doesn't pay you won't lose any rental income at all and it won't cost you the eviction and you won't be chasing them for the next 10 years hoping for a few scrapes of their money.