I'm working with my brokerage to get myself HUD registered so that we can bid on the HUD properties but my question is to anyone who has dealt with these lender/government owned properties before; are they worth pursuing?

No I didn't pursue it.  

When the time came to sell, I anticipated a solid profit from the deal.

It makes sense now seeing that its more about ongoing duties after registration.Were I in a position to pursue syndication, I would certainly follow your advice and seek an attorney.

Admitting to myself and to others that real estate investing is something that I want to pursue with everything I have is a big first step for me.

I would lean towards recommending that you pursue the deal - plus having the property remain in your family may be a net positive for you and your extended family regardless of the ultimate financial return. 

The real estate market has shifted dramatically in recent years rising interest rates, evolving buyer and seller expectations, and fluctuating property values are keeping all of us on our toes. For fix-and-flip pros, ...

The price you pay for being part of the Disney World spoon-feed of guests is that the barrier to entry for profitable STRs (ones that leverage close to or max LTV) is very, very high.  

Welcome to BP - what strategy are you looking to pursue for your first real estate investment?

I've been saving for a house hack over the past two years and recently came across a great property in the Denver metro area that I’d love to pursue.