HUD performed extensive due diligence on us, and had to approve us as buyer's and our management company and mangers.

It’s great that you’re pre-approved, but I’m curious why you’re leaning toward traditional lending instead of hard money, especially for a flip?

Quote from @Jason Hatfield: @Jaycee Greene  they require a non refundable deposit and give 48hrs to see proof of funds I would suggest developing a relationship with an HML/PML that would give you a "guidance line" that would basically be a "pre-approval" for situations like this to present to the buyer/auction company.

They do have you approve different settings that prices your property at the 50th percentile of your market or 75th percentile etc.

Ugin,When you say permanent foundation it is required by Fannie Mae, FHA, VA and Freddie Mac that a manufactured home/Mobile Home be on a permanent foundation. 

My duplex - built 1989, 2,060 sf, 2 bed/bath, 1 year old roof, value if I subdivide (county already approved) and sell each separately $150k each ($300k total)Investor duplex - built 1995, 2,300 sf, 2 bed/bath, 5 year old roof, value around $310kThe investors initial request was for an equal trade and they would pay realtor fees, which I replied wouldn't be equal due to buying/selling costs (recording fees, title insurance, closing fee, survey, inspections, loan fees, 1031 fees, accountant fees, repairs), taxes would increase due to new sale price, I'd trade a 3.75% mortgage for a higher one, and I'm on the 10th year of a 30 year loan so resetting that to a new loan would restart amortization and pay more towards interest.

Also, our team has a lot of experience in working with Sec 8 residents and getting properties approved.

Plus you'll want reserves for maintenance and vacancies.Have you checked what you can actually get approved for?

Hi @Justin Snead, I would say just make sure wherever you take the pre-licensing class is IDFPR approved. 

Purchase price: $82,077 Cash invested: $50,000 Sale price: $275,000 Fix & Flip mobile home with extra lot.