Analyzing a HUD property with different strategies.

[Stephanie Cessna]

I am analyzing a HUD property that is open for bidding tomorrow. First off, are HUD's even worth investigating? This one would need a massive overhaul--a complete rehab. When I analyze it as a BRRRR, the investment is negative cash flow, but when I analyze it as a fix and flip, it could be profitable. I'm new to all of this and I know I have a lot to learn when analyzing deals. Is this possible for it to be profitable using one strategy but a bad deal using another?