"No money down" has been a regular slogan in the real estate industry for years. Just because you buy a house with no money down does not make it a good deal. It just simply means you bought it with no money down. If you had bought a house in places like Florida, Nevada, California, and Arizona back in 2004 for $400,000 with out putting down a down payment you would be about $200,000 in the hole right now. What makes a good deal is buying a house for 30%-60% below value that has monthly cashflow or if you are going to flip it then you would be able to do it easily. When it comes to flipping a property the goal should be selling it quickly for a nice profit. The problem is that TV shows paint a different picture of how to flip houses. Doing major rehab to a house is risky. I don't like risk. Rehabing houses for a profit is simple: carpet and paint. Maybe a few kitchen and bath extra's.
The point I am amking is this. Don't buy a house just because you figured out how to buy it without a down payment. Make sure it makes sense. I have a slogan I like to use. If you just follow this one tiny idea it will take care of 90% of your problems in real estate. It goes like this: "Most people buy houses to impress their friends, I buy houses that impress my banker. There is a big difference." Go out there and try to impress your banker. Get it done!
You've got to find your obstacles and call them out! Unsheath the sword, and do battle with whatever it is that holds you back!