Anyone have experience buying HUD homes, living in flips/rent?

[Rj J.]

Hey Everyone,

My girlfriend and I have real estate goals of being landlords and within 10 years get to a point where we are generating $10,000/month in rental real estate by buying 2, 3, and 4 family homes and at some point, small apartment buildings/complexes.

We are looking to buy a HUD home as an "owner occupant" in Connecticut in 2016, live in the house for 2 years while rehabbing it and then either selling or renting the property and then repeating this step all over again with a different HUD "owner occupant" home.

I would love to hear from people who have used this approach and their experience.

Some of my questions are:

What is the process of buying a HUD "owner occupied" home?

What is the benefit of buying a HUD "Insured" home ver "Uninsured?"

What are some things I should look for which makes a good deal and things I should stay away from?

Thank for the input!