Its better used for presentations. 

Based on our research, it seems like more of an auction format, so we are concerned that if our initial offer is too low, it will be completely disregarded and we will not have a chance to increase it if there are higher offers present at the end of the offer period.Can anyone give us a general timeline of the HUD home process?

Maybe triplex is allowable, maybe not, need to check the present zoning for allowable uses.General observation: Parking lot = low cost/low investment, lower cash flow, less stable source of cash flow, less available buyers for a parking lot (less buyers = less potential value). 

I know that the majority of properties around this area won't stand a chance of offers below 10-20% of asking price, but if the opportunity presents itself to (home has been on the market for a while, or needs significant renovation), I would certainly like to start the offer there.Francis/Amberle: Thank you for the advise!  

I would send a letter stating that you will be present at the auction whenever that might occur. 

i know there is spot treatment where active termites are present. 

Account Closed the 2 scenarios you presented both have their pros and cons.

The best way to lock a contract with a sponsor is by locating a good deal first and then presenting it to a syndicator to see if they are interested in joining. 

How do I present a deal like this to someone with private money.

I thought I would present another reason - the opportunity to use your money more profitably than paying down cheap, secured debt.Best of Luck on Your Journey!