Short on funds what to do?

[Tanner Cole]

I'm just getting into real estate investing and I've been doing comparables. I've found a property that's on foreclosure which is going up for auction next month. My initial plan was to do a cash out refi on my first rental but the appraisal came in under 100k and I'm having a hard time finding a bank to do the loan. I've never used a hard money lender and I'm definitely nervous about that idea.

The property I've found has a starting bid of 14k and should appraise for 50 to 60k after renovations. It looks like it needs about 15k in renovations but with being a foreclosure it's hard to tell for certain.

My issue with hard money is I wanted to brrrr it but with it being under a 100k I won't be able to cash out refi.