I think the answer will likely vary some by state and based on where you do business.

They always need varying amounts of work, but my maximum exposure on 95% of my rentals is a monthly GRM of 50 (50 X monthly rent equals my total exposure).They are all lower end (its hard to find a $20K house in an upper end area in any market), but only one of them is what I would consider a war zone.

Tim, the price varies.

I also find that it varies within each brokerage and how open that brokerage is to working with investors.

There are personal property disposal laws that VARY state by state.So someone in a different state might not apply and even from your own state might not know the law correctly.I wouldn't have put that I went into a window to gain access.You need to talk to a local eviction attorney well versed in property disposal laws.It might look like crap to you but people sue everyday whether they had real value of items to lose or not.

Hi Kenyatta,I really don't think there are any "golden rules" for putting offers in on HUD homes and it tends to vary from market to market.

I am sure that the loan docs vary, so be sure to read them.

Security deposit laws vary by state, but it's a good idea to hold in a separate account either way, since it's not your money.2 - Yes, transfer into real estate account and fund from there.

Jim- it varies.

You gotta love the first time posters who are always trying to "help a friend" :DMany of the questions being asked have already been answered in this other recent thread:http://www.biggerpockets.com/forums/103/topics/58702-purchased-a-hoa-foreclosue-now-what-And to get more specific information, you have to first realize that the rules of foreclosure vary state by state, and sometimes even more locally than that.