We are currently looking at a HUD home in Georgia - I have a couple of questions and can’t seem to find a definitive answer - The home is currently in the OO listing period - our plan would be to buy the home doing extensive renovations (the home is in a “Historical” area so renovations have to be approved) once completed we plan on living there full time - it could take ip to a year to complete or longer I don’t know  - as I see it the OO designation is to be the OO for a min of 12 months - is this after the home has been renovated or after you close on the home - though the house could probably technically be lived in now it does have some water and roof damage and needs complete redo of electrical and plumbing - for me to deem it safe - so not really livable by normal standards - but no way it would be livable in just a couple of months - any thoughts or an actual answer to the OO rules 

Income Late fee Gross rent Expenses Advertising Cleaning Gardening/lawn mowing Insurance Interest on loan(s) property tax Legal expenses Pest control Property agent fees/commission Repairs and maintenance Water charges Electric Bill Total expenses Net rental income or (loss)

In the 80's the electrical grid from Oregon to Mexico went down, and it was chaos for a few hours.

I wouldn't remove auto-pay on your utilities from your credit/debit card if you have them, don't want to miss your electric bill by accident but any daily/casual/somewhat necessary spending is cash.

Purchase price: $55,000 Cash invested: $110,000 Sale price: $205,000 This was a 1950 raised home that needed extensive foundation repairs as well as all plumbing, electrical and subflooring.

New HVAC, plumbing, electrical, floors, kitchen, baths & added a deck. 

May check out some properties there in a couple of weeks(Dewey and electric ave and Lexington and lake).

Updates of heating, adding cooling, and electrical.

No foreclosure or court action required.3.You might also consider depending on where it is, no electrical or lighted signs if that might be a consideration to you. 

China has cheaper labor, almost no EPA constraints, far cheaper electric power with their new Dam, etc.