Glad to see your looking to invest your money in a home. The best thing for you to do, would be to contact a lender first, he/she will guide you through what can be done, as you have a variety of options. Just because you have no credit (zero credit) doesn't mean you can't by a home. There are programs out there that utilize your current utilities bills, car insurance payments etc to help establish alternative credit. It can be done. If you are saying your credit is zero because you've had lates, repos &/or foreclosures, you should still seek the advice of a lender as he/she can give you a list of items to complete to re-establish or help rebuild your credit.
When you say you can get [by] $50,000, are you asking how much of a home you can buy for $50,000? or are you saying you have $50,000 in cash to put on a home or condo? This makes a difference, because if you have $50,000 in cash you can do several things;
1) Buy a condo cash and only worry about the monthly utilities, monthly HOA, Quarterly taxes and maintenance of the unit
2) You can put all or a portion of those funds towards financing a property for example a home in the $125K range. There are options for financing depending on your credit, again I'll reiterate go talk to a lender.
3) You can look for alternative purchase sources such as Owner Will Carry, Rent to Own, Lease Options etc.
In any / all these cases your first steps are to find people that make you comfortable and confident and help educate you about the process, so that you know what is happening every step of the way... Again find a lender and don't just talk to one person and then find yourself a great agent who will help make your goals of home ownership a reality.
It can happen! Have a wonderful day.