my tax guy and local Realtor friends all tell me its a bad ideal to take out loans to buy houses and that i should just save up and pay cash . from what i have read online about paying cash i would be loosing out on some income plus the mortgage and interest is tax deductible . i keep a large safety net in place . i am not streching my self to thin . if i have to dip in to the safety net i make it top pryority to replace it . i guess i feel that not taking out loans to buy houses is just slowing me down . ......anyone have a good reason why not to have at least one loan at a time

You can actually zero out your selling agent (buy-side) commission when bidding, resulting in a higher net amount to HUD, and net is all that HUD cares about.

The net-net is how great a deal is this?

Daren just to further expand on Joel's point that pay down formula typically referred to as the release price will be such that a lender would expect to receive 100% of the net sales price of the unit, The net is a percentage that the lender will allow to cover closing costs such as sales commissions and legal expense.

In this particular deal though as is the case with so many hands in the pot - I couldn't get word across to the seller (through the web of realtors) that he needed to have a separate company do the testing before and after, otherwise how do we know the mold is actually remedied?

So I feel like I either have to $hit or get off the pot.

If the HOA is ran down with a bunch of vacancy you can expect to pay or eventually pay higher HOA fees from the lack of owners paying into the pot.  

Well, after seeing the house, I have an update...It's still in perfect condition and I have just acquired 2 beds, 2 couches, a fridge, washer/dryer, 2 desks, a kitchen table, pots and pans, etc.

Net net I like doing business via the crowd better if I have an adequate amount of time to raise the money this way.  

The business is booming - not just the pot smoking but also the edibles, creams, salves and the list goes on.