Pre-Foreclosure | Hard money

[Arthur Fuller II]

I'm new to this world (haven't had any deals yet). Wondering if this a viable strategy:

I'm looking at pre foreclosures with enough equity that I can offer to pay off the loan, give the owner some cash and still make a profit after rehabbing the home.

At this point I obviously don't have the cash needed to do this on my own. Is this the type of "flip" a hard money lender would be willing to fund?

an example with numbers would be:

ARV = 300k

amount owed to lender 50k

I would offer to purchase the house for 100k - 50k for the bank and 50k for the owner.