Question- on rehab loans- where are my lenders?

[Laura Krukowski]

If I bought a foreclosure for 50k in cash- how hard is it to get a rehab loan? This would not be a primary residence, it would be more of a fix & flip or rental. Our credit isn't great. Do you still need money down for a rehab loan or can you use the property as collateral? 

Any info would be helpful. There is a property I have an interest in and it needs a total rehab. The timing isn't great but damn what an opportunity, I hate to not even TRY to consider making it happen....Thanks gurus!