I just purchased a HUD home that I was planning to move in, but the land is not as big as my current home and Im not going to be able to fit all my toys and vehicles on the yard.I don’t want to sale it but the questio...

So go file in small claims court (after a suitable amount of time has elapsed for them to have paid you) a suit against them. 

Make Offers with suitable financial backing with appropriate exit strategies in mind6.

If you are considering this type of financing, I don’t think it’s the right RE-investing for a suitable return on your money.

Even if they don't know the people directly, there are web sites that'll list the property for those credit tenants to view and determine suitability.

Here, I could not find any suitable duplexes and could not afford larger multis.

I don't want to waste my money to find out later that it is not suitable to my business - once i set one up, can i add or revise it later? 

@Laura TroianIf you can find a suitable tenant who would take a 6-8 month term lease, it would solve your heating through the winter problems and free the house to be placed on the market in the spring - around here that is the best time to list.

This strategy may work for you because a) the reduction of monthly debt service on your current home may allow you to rent out your current home for a decent cash flow b) the low down-payment requirement (3.5% last I looked) on FHA loans would allow you to tap only the cash you have on hand and purchase a new property.Pros: Most efficient use of available liquid capital (from the brief snapshot you have given me)Equity in current residence could later be tapped to help you remodel and build equity in second purchaseCurrent residence may cash flow well once rented (not enough data to verify)Cons: Require you to moveHave to pay refinance closing costsThere will be time that you are paying both mortgages while you are looking for a suitable renter, but if you plan this for PCS season for the large number of military installations in the area your risk here is greatly reduced.Please remember to take this with a grain of salt, I do not have all of the details of your situation and you should talk with your spouse and lenders to ensure that this works in your situation before executing this strategy.I hope all goes well for you,Allen Fletcher

Entries like this are probably more suitable for the blog section WITHOUT solicitous items.