Newbie question about investment purchase process

[Chris Purvis]

Hello, I'm working towards purchasing my 1st investment property, but I don't want to use any of my own money. (which is not much) I've seen the different types of funding out there and was wondering if anyone with experience using any type of funding could answer questions for me? 

There's a HUD home in my little ole city of rocky mount nc for sale for $36,500 in a B neighborhood not too far from a nice country club and golf course. Tax office accesses it at around $112,400. Would I have to have a contract, or however that works with hud, on the house in order to apply for any funding to purchase? Can anyone tell me how that process would work for funding not just with a hud home but with any home that the numbers show that it would be a good deal? Thanks in advance