-Can you alter leases later on?

It is actually a federal crime to alter a HUD property3. 

Instead of waiting patiently for a real deal to come along or altering their current or past approach so that they can ideally better locate a real deal, they start putting on their rose tinted glasses with ARVs, neighborhoods, and repair costs and compromising their math or analysis formulas because, darn it, doing any deal has to be better than not doing a deal at all, RIGHT??

So it'll be interesting how I alter my approach on the next boarded up house.Thanks to everyone who offered their feedback, it has been greatly appreciated!

So taking out walls or altering the foundation...permit almost for sure. 

Hud requires a tax id#(for and LLC or Corp) or SS# if individual and the property must be closed under that entity or nameHUD does not allow their contract to altered in any way so there are no clauses that can be addedHUD does require proof of funds or pre-qual letter along with proof of the entity before the contract will be ratified. 

If there was an issue getting someone's rent, I would alter the transfer to the lower amount.

Oil will alter that market but it is still one of the top job-producing markets in the country. 

However, if you decide or need to make major alterations, change the use (like single family to duplex), or change the egress, then you'll need to get a CO.However, if you just want proof about the current legal occupancy status without getting a CO, then you can request the letter of no obligation.

I am Not advising to do this, but.....if it is a very simple fix like a valve or something, and you scheduled another "inspection", for your plumber to do your own air pressure test, and found the "simple problem"......some people might say to simply fix it.....realizing of course, you are not allowed to fix/alter anything on a Fannie house before you own it.....just sayin'.