There is an FHA loan that allows the borrower to get one loan to acquire and rehab a property. This is, as Naima identified, the FHA 203K loan. A determination of the $$$ allocation for the rehab is made and those monies are set aside in an escrow account. As repairs are made to the property, funds are approved for release from the escrow account.
This link will take you directly to the official site of HUD which administers these loans.
Best of luck
An 203K FHA loan is funded through lenders who are approved to write these types of loans.