Ok. here is the deal. I want two buy two forclosures and rent both of them out.?

Yes, you can do this....but the loan can only be on one property.....not some sort of combo. However you have a few hurdles. The first problem is finding a loan under 100k. Nobody wants to lend small amounts.(Which is why I'm assuming you want one loan.) The second problem is that you will need a 30% Loan to value (LTV) down payment if this is a mortgage on an income property. I am currently renovating two properties in similar budget situations. Todays was the delightful day I found out the shower stalls are built of pegboard with paint- thin plastic. You need 10k+ of capital to put work into each house, no matter how clean it looks. Foreclosures are as-is, and there is no recourse for illegal plumbing and wiring, which I am addressing on both homes I'm working on. Also beware that credit card companies flag you as high risk when you spend irregularly.....especially now. My credit line was cut 75% on my AMEX card. Aside from all this......and answering your main question.....if you find a way to get one of these homes, you can renovate it, get it re-appraised, and do a 95% loan cash- out on one home to pay off another. Just make sure you can get the home appraised high enough. (In other words, do your homework.)

The answer is no,

Why would you want them consolidated into one loan?

If you ever decided to sell one, you would not be able to do it.

Each property is financed separately, for a lot of reasons.

I do not know of a state in the union that would allow this kind of financing.

first, each house will need it's own loan.

2nd, with investment property, you will need at least 30% down.

Talk with a lender.

Make sure to have a plan. You will earn some good rental income probably, but make sure you incorporate tax, insurance, mainetenance, long term goals, and short term goals.