I agree with Anna. You will have to qualify if you want a mortgage loan. There are a couple of programs that allow you to borrow additional funds to make repairs - one is called the 203K program. It's a little involved but well worth it. Also, It often takes longer to close on foreclosed properties, particularly HUD properties, so be prepared to be patient.
Let me know if I can help! I love finding good deals for my clients! I've even found a couple for myself.
Hope that helps! If you need or want more information, let me know.
Kris Deaton, Realtor
Accredited Home Staging Specialist
Shumaker Realty, Inc.