Find/Hire a Team full of members who are professionals that can do what you don't like.The preliminary Team members are Attornies, real estate Agents, CPA's (or accountants), Inspectors, General Contracors, and Handymen.  

If it hasn't, I can give you the name of a lead inspector that's very good to work with. 

On a typical project, here are the contractors I'll probably use:- Demo- Roofer- Painter- Carpenter- Plumber- Electrician- HVAC- Window Company- Tile Guy- Carpet Guy- Hardwood Guy- Cabinets/Countertops Company- Termite Inspection- Landscaping- Garage Door Company- House CleanerIn addition, on many projects I'll also use:- Drywall Guys- Insulation- Surveyor- Structural Engineer- Inspectors- Concrete Company- Driveway/Paving Company- Grading- Tree Trimming- Shower Glass CompanyFor big projects, new construction:- Architect- Civil Engineer- Foundation- Asbestos Removal- Sediment Control- Excavation, Dirt Hauling- Interior Sprinklers- Stone WorkEach of those contractors will typically get between 1-4 draws, depending on the scope of the work they have for the project.Then there are materials and other non-labor costs:- Permits (0-3 transactions per project)- Porta Pottys (0-3 transactions per project)- Home Depot Materials (3-5 transactions per project)- Dumpsters (1-3 transactions per project)- Paint Purchase- Cabinets/Countertops Purchase (2-4 transactions per project)- Flooring Material Purchase (1-2 transactions per project)- Specialty Material Suppliers (0-10 transactions per project)- Utility/Service Installation (0-5 transactions per project)- Private Inspections (0-5 transactions per project)- Insulation/Airtightness Tests- AppliancesOn top of that, I will potentially write several checks to:- Title Company- Property Inspector- Appraiser- General Contractor or Project Manager- Interest Payments- Utility Payments- Tax PaymentsOn top of that, I have my general business expenses:- Accounting- Legal- Interest Payments- Tax Payments- Brokerage Fees- E&O Fees- MLS Fees- Overhead/Office (Supplies, Equipment, Subscriptions, Software, etc)- Telephone/Fax/Internet- Income from Property SalesAll of these easily add up to a couple hundred transactions on a large project or new build, meaning many dozen per month. 

You know the number one reason to use a home inspector is, well....let's be honest, because a bank or insurance company is making you do it.  

It still was a good learning experience and made money in the long run.I wouldn't dissuade anyone from buying a HUD home, I'd just say, go in with your eyes wide open, get a good inspector / contractor maybe to walk it with you.  

We went out there with a contractor who is also an inspector for 203K loan properties, exactly who we needed.

Have a primary Team of experienced members to help you with those things you do not know.The primary Team members are Attornies, real estate Agents, CPA's (or accountants), Inspectors, General contractors, and Handymen.  

Unless you are a qualified inspector and are certain of the condition based on your indepth inspection.

I need contractors, GC, inspectors, and I'd love to talk with some brokers.

We had the same issue on a flip, cloth wiring with no ground so it ALL had to be completely replaced as per Electrical Inspector & before signing off the permits.