Do properties need to be in "good" condition in order to be financed?

[Giganni Lopez]

I'm a Miami realtor looking to purchase out of state. First time home buyer wanting to use FHA 3.5% or conventional 3%. I'm finding a lot of properties in Ohio & Illinois for less than 100K. They need a lot of work which I don't mind... but don't banks require the home be in good shape in order to finance? Here in Miami, banks won't finance a house if it has a crack on roof tile. I need to know where the "line" is as I would really like to find a 75K house and finance it with as little money down as possible so that I can use most of my funds to fix it up and rent out. Thanks for your help.