Foreclosure/Rehab financing question

[Adam K.]

I am about to go to P&S on a sngle family home that is foreclosed and the house is not habitable. This is an investment property that I plan to rehab and flip. What is the best avenue for financing on a project like this? I have heard that because the property is not habitable as it currently sits, it prevents me from pursuing conventional mortgage. Although I would prefer to finance the project including rehab costs, I will probably just use a home equity line off my primary residence to fund it. However, I still need a mortgage to purchase the property. What are others doing? I am located in MA if that matters. Also, sorry if I posted this in the wrong forum, too many to choose from ;-)