Repair Install Windows 7 from USB

Is it possible for someone to do a Repair Install from a USB instead of a DVD? I've been trying to install Microsoft Office 2010 on my Windows 7 Home Premium 32 bit but it keeps on encountering an error when installing. It doesn't really specify an exact error, but after digging around through the logs it says it's an Error 1603, which is a permissions related kind of error I think? I've been taking ownerships of all sorts of folders including the Installers folder, the Temp folder etc. I still get the error. I even ran the Microsoft Fixit Office Cleaner program and uninstall any left-behind Microsoft Office registry keys, files and folders, but I still get the problem.

I've also renamed/deleted the Microsft Help folder and I still get the problem, so I thought I should just start afresh with a new Windows. But I don't want to reinstall all my programs and re-set everything so a Repair Install sounded like the best option. I just don't have the Windows 7 CD with me, but it's on my USB.

Thank you for the speedy reply. :)