Claudia, I doubt if any Lender who NOW owns a property "post-foreclosure" would be willing to sell to an investor with 100% financing! That' what got them all into this mess to begin with!!! Especially with â€œFlipping"!! You're assuming they are going to sell to you at a price allowing equity for "Flipping". The statistics on Lender's selling REO homes in relationship to market price is very high.
You should form an investment group, raise a bunch of cash, and then go buy these properties at Foreclosure THEN you can flip them as this is not silly at all!! You've got the right idea but procedurally you're a bit confused!