Wholesale Deals

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I'm thinking about "treading new water" so to speak and go into residential investing.
I've heard about putting purchase agreements
on HUD homes at below wholesale and turning them to cash investors at low prices quickly, without investing little or no money of my own.
Didn't know if it is better to do any needed repairs first or just flip cheap enough to allow the investor to do the repair work.
Repair work wouldn't be a problem for us as
we ran a flourishing construction biz until
the "economy" happened.
Any one with some input would be greatly
appreciated.