Here in my situation: We (my wife) got a HUD deal under contract that we were gonna flip ourselves; we got it OUTSIDE of the exclusive owner occ period.

Hello,Can someone please verify the due diligence period for a hud property?

If you want to take the time to crunch the numbers, try to lock the owners into an agreement giving you a 15 or 30 due diligence period.

Another option is to purchase investment properties and hold them for a period of time until the market fully rebounds.

I estimate the holding period to be no longer than 5 years.

In this case, the consequences are that you don't have a financing contingency period, and in some cases, you may piss off the seller.It's only happened to me twice, but two times I've had the REO seller (once FNMA and once Chase) come back after I've marked "Cash" on the addendum and not lot me finance the deal because I made that selection.

That's like the local grocery store advertising "Buy more and save more"...But I would pay the bank $1000 in interest if the $31,000 borrowed money (or here not yet paid back money at 3.2%) can be invested in RE, for example, that gives me more than $1000 in NOI for the same time period.

If it was listed for $300,000- I might be looking for what is missing, like maybe a sewer plant needs to be replaced, or the park is on a master lease that will expire, or maybe- they are only collecting 50% of the rents- maybe a manager is stealing the rest of the funds...

Your offer will specify a time period, usually a couple of weeks.

It would cost the same or less, but I would be losing that profit over a period of months and have the chance to jack the rent back up on renewal.