I need to tap that equity to purchase other properties.

I narrow down to 3 deals: 6U, 10U, and 12U.

Questions that need to be answered?

My understanding is that most lenders will file a mortgage lien on the subject property as soon as the loan is signed so as to preserve their rights, but what if the lender did not do so before the borrower defaulted?

Looks like you are going to profit $150K after commission and closing costs.Sounds like a good deal.If you think the multi-family duplexes are going to bring the price down.

The most important thing is to understand your coverage before you have to use it. 

Hello,First time poster and fairly new to real estate investing.

Do you want to work in a team?

Hello all, I'm curious how much the HUD will actually pay compared to the 40th percentile rents posted on their site.I'm aware of the different amounts each tenant will cover in terms of their portion of the rent, but I'm not sure if the HUD will actually agree to my rent price.I've been taking the stated FMR for the bedroom count, and taking 20% off the number stated (to be conservative as to what the HUD will accept).

@Angel PengI have dealt with this in the past by first checking the lease, and if it is now month to month, I will give them notice that I am terminating the lease in, say, 60 days.