Seeking advice with FHA CWCOT property

[Wil Serrano]

I'm in the process of purchasing an FHA CWCOT property that is being sold prior to conveying to HUD. I will have to assume all responsibility and liability for any occupancy, and all responsibility, liability and cost of taking possession. The seller will only be paying any delinquent taxes, pro-rated taxes. The property is being sold "AS IS/WHERE IS" and seller is not purchasing title insurance and No Title Warranty.

Has anyone purchased a similar property and would be willing to share their experience? What would be my risk involved with occupancy and taking possession?

Any feedback is greatly appreciated. 

-Wil