If its 1 unit you need 15% down payment for investment property. If property need the work you won't be able to buy under conventional loan for investment property.
Try the Fannie Mae Homepath Program if you plan on using as primary residence. It’s a conventional program (important for homes requiring work compared to FHA), requires only 3% down and generally beats FHA mortgage insurance costs.
Last two clients of mine have purchased their homes through this program that very likely wouldn’t have been financeable through FHA.
Good luck
Homepath financing has not existed for the last 4-6 years.
You can finance a foreclosure property just the same as any other property. If in financeable condition you can do fha 3.5% down or conventional 3-5% down as an owner occupant.