I agree with Steven.Most likely HUD placed a restriction on your deed that would prevent you from selling the property for a per-determined period, say 1 year.If you do not discover a deed restriction, I would move on with your life-just realize you won't be purchasing another HUD home to be owner occupied for quite a while.Best of luck.

A new supplement to the HAFA guidelines "amends this restriction to allow servicers the discretion to approve sales to non-profit organizations with the stated purpose that the property will be rented or resold to the borrower, so long as all other HAFA program requirements are met."

@Brian GibbonsCome to think of it, there might have been some mention of the 3 year lease restriction once upon a time in my education.  

Wikipida lists the following as examples of self dealing:Examples of self-dealing include:Having your IRA purchase real estate that you own or use.Issuing a mortgage on a relative’s new residence purchased by a family member who is a disqualified person as listed above.Granting a child a second mortgage for the down payment on his or her first home.Buying stock from the account owner involving IRA funds and a disqualified person.Purchasing stock in a closely held corporation in which the account owner has a controlling equity position.Purchasing restricted stock from a family member who is a disqualified person listed above.Equity list the following:Some examples of “Self Dealing”Having your IRA purchase real estate that you own presently.Having your IRA purchase real estate that is owned by a family member of lineal descent, such as your father.Issuing a mortgage on a relative’s new residence purchased by a family member who is a disqualified person as listed above.Granting a child a second mortgage for the down payment on his or her first home.Buying stock from the IRA owner (any transaction involving IRA funds and a “disqualified person” is prohibited).Purchasing stock in a closely held corporation in which the IRA owner has a controlling equity position or, if such corporation is the IRA owner’s employer, in which the IRA owner is an officer if the IRA is established pursuant to the employer’s SEP or SIMPLE programPurchasing restricted stock from a family member who is a disqualified person listed above.Neither list my purchasing an asset from the SDIRA that will not be used for personal use and my research did not find any source that did.

Being a teacher I think your network will be a huge asset, and they will all understand your time restrictions up front.But yes, you can draft contracts, schedule showings, run comps, etc after the kids have gone to bed, but be prepared to lose many evenings and weekends to showings.As far as earnings potential I believe NAR reports that agents make, on average, about $30,000/yr.

There will be no restriction on getting paying room mates.

I'm in favor of legal gun ownership with restrictions.

Unlike HUD, there is no set amount of earnest money (though at least $500-1000 is standard), and there is no set percentage under list price that the asset manager will accept -- though for recently listed properties, I rarely see accepted offers under 90% of list price.One thing to keep in mind if you're considering wholesaling Homepath properties -- they will impose a 90 day hold period after purchase during which you can't sell the property for more than 20% above what you purchased it for.

Ibrahim, I love my iPad (on it right now) but I find it to be pretty restrictive for my real estate needs.

The Catholic church just put in a crematorium in Nye County, 75 miles to the west of Vegas, because of Clark County zoning restrictions.