Hi folks, so I just discovered this forum stuff.  

But after having an inspection, plumbing inspection and foundation inspection done, I discovered that the house actually needed close to $100K in repairs.

I don't think there's a special need to let the applicants know about the $990 candidates.IMO, I'd leave the $850/month tenants alone unless you discover that they are problematic.

Hi I am still a newbie looking for my first deal, and I have recently discovered HUD homes. from what I understand there is no limit to how long you have to hold a property before you can sell it.

I, too, am new to BP but I am already discovering it has a great deal to offer.Brian

It's a good question and the answer really depends on the LL.  

As I'm sure you've already discovered, there's so much info on BP.

Obviously repairs could be one cause, but I expect I would discover that on walk through/inspection -- right?

As a beginner real estate investor I wanted to build a trustworthy team around me that would help me accomplish my goals, however I have discovered I don’t know much about what a winning team should look like.

She would tell us we needed to have the central air serviced because it wasn't cooling the house correctly, with interrogation we discovered she was leaving the AC off all day letting the house heat up to the high 80s when it was 100 outside, then coming home at night and she expected to be able to cool the house down to 65 degrees in 2 hours.Just trying to say don't let tenants send you on wild goose chases, especially ones where you could be held liable by your actions from a cascading series of events.