Foreclosure refers to several different stages of an extended process. During several of these stages certain forms of No Money Down can effectively be used.
Don't confuse No Money Down... with No Money Needed.... with any No Money Down... You will frequently have very high out of pocket cost, such as: cost to reinstate, cost to make repairs, Due diligence costs, cost to market property and closing cost and many other cost that are skimmed over by the TV infomercials.
In each of the stages of foreclosure, different techniques work best and only cash works best at several. Lease-Purchase is becoming one of the least desirable methods overall.
Nothing is free... you must understand the full process or you will pay far more than you ever anticipated. Risk vary and payoffs for risk are generally greater than no risk situations. You, however can not expect to beat all risk all the time even when you are extremely knowledgeable in the processes. These are not for the late night TV watchers.
Never think of investments in real estate as being a Get Rich Quick activity... if you do... you will be in well over your head.