understanding HUD process

[Vicky S.]

I was just checking on HUD listings around my neighborhood and saw something that i liked. I did some BP search and understand that you can have a HUD home for as low as 60% of the price. I was more interested in knowing the process involved? is it similar to a conventional real estate transaction?

also can i wholesale a HUD home? how accurate are the reports that are attached along with HUD listings? do i need to have it inspected separately?

i know these are a lot of questions but any guidance is highly appreciated. 

thx.