Your strategy is great but there may be few problems.
With no down payment there is reason to believe you may have financing challenges. If you have been unable to save ANY money, becoming a home owner may not be your best option.
Where would the money come from to update the house you buy?
Have you discussed your situation with any lender to determine the price point you would be eligible to purchase?
You may find yourself in head-to-head competition with well funded investors who prefer 3/2/1 and who will buy quickly and with cash.
You may find spending some time in financially positioning yourself for a home purchase will prove very beneficial and save you a bundle of money.
Best of success in finding your new home.
Barbara Coker, Licensed Mortgage Loan Officer NMLS#228545