Getting Feet Wet With HUD

[Michael Johnson]

I'm gearing up for my first deal. Yay! It's a HUD home, decent price I think, but I still need to do a little research on the comps and any necessary repairs.

Where I'm concerned is if there are any restrictions typically on HUD home purchases. Is there a "gotcha" I'm not seeing like minimum hold time or maximum resale price? Obviously market value has a limitation, but I was curious to see what your collective experiences were.

I did a little research here already on others buying HUD, but didn't see the answers to at least part of what I'm asking.

Thanks in advance

-Michael