Hard money

[Del Hedrick]

Hello all! I am new to investing and new to biggerpockets. I'm interested in getting started flipping houses in Northern California. I've taken the first step and talked to some hard money lenders. One of the ones I spoke to that appeared to be the best offered 80% LTV and did not lend any of the rehab cost. What I'm wondering is, is that 80% of what I end up buying it for, what the ARV is, or what market value is? My next question is, when you are just starting out how do most people come up with the other 20%? My final question is, what does the process look like when you are using a hard money lender to buy a home that is under foreclosure? Thank you in advance for your input!