I'm buying more in Shaker than University Heights, but just finished up one up at 3510 Raymont over there, pretty big job, we were moving walls. Its listed if you want to see what we did over there and have an agent to walk through. HUD homes aren't anything all that special, your RE agent will walk through the details. You can expect them to put a deed restriction on the flip, usually 60 days. That stuff really only affects wholesalers, not people wanting to do the work. Its government stuff so sometimes they can be a pain on things, but I've never lost a deal once it was inked.
They are moving way faster over there than they were last year, the ones priced right are getting gobbled up, you really don't have a week to ponder things if its a real deal. As far as what to look for, the taxes there are way higher than here in Georgia, especially in Shaker, I barely factor them in around here, got clobbered with them on one that went long up there at $8k/yr. That knob and tube wiring can be a pain, its hard to partch into and hard to run new wires in plaster walls. I've spent a lot more on electric and plumbing there than I'm used to. Biggest thing is what the city makes you do on the point of sale inspection. Shaker is making me replace a 3 car garage that doesn't need replacing. I've repoured a couple of driveways I wouldn't have given a second thought to here in Georgia, too. Different cities have different quirks on that stuff, but you really don't know what you're getting into until you've got that.
