@Gagandeep Thandi in order to qualify for a conventional loan, you would need the income, credit and collateral. Here is an example, if a person wanted a 200k loan to buy an owner occupied 210k home they would need an income of 42k per year or more depending on how much debt they had. The more student loans, credit cards and car payments then the higher the income. You would need a 640 credit score or higher for this type of loan.
If a person wanted to buy a 200k house that need a lot of work. You can find hard money lenders to finance you if you can put 10% down. The hard money lender will not look at your income, they will look to see how much the house is worth after it is remodeled.
The hard part these days is finding a property that is below value. If you look on mls, the good deals sell in one day. The other deals take longer to sell and they will be purchased by a bay area investor or new person who will pay too much for the property in relation to the repairs it needs.
If you find an off market deal on your own, you can post it here and you can network with investors here and you will be able to get funding for it. good luck