Cash Purchasing to Rehab/Refinancin

[Jackson Sipperly]

A business partner and myself are looking to purchase a property together. Between us, we have about $50k cash. We are looking to find an a deal where we can purchase a small property in our chosen area with the $50k. We'd be looking to get a company that would likely require some rehab, probably nothing major as it's our first one but we're prepared to add fair value to it in order to get experience working with contractors and rehabbing properties. 

My question is, what would be a good idea to pay for construction costs if we are looking at using our nest egg for the actual property purchase? I have looked at the Fannie Mae HomeStyle Loan and the Freddie Mac Choice Renovation home, but that would involve more of a traditional financing approach using our money as just a down payment for a mortgage. We're not opposed to that, really just want to evaluate all options before pulling the trigger on anything. Personally, I don't love the idea of financing a rehab with credit cards. Any advice would be greatly appreciated!