HUD homes are government owned foreclosures.

Seek broad education in real estate, business, tax law, government laws (federal, state, county, city), finance laws, real estate law and practices, and as much as you can think of that may or may not directly apply.Education Sources-Small Business Administration (SBA) (not just for loans)This is a taxpayer-funded organization just waiting to give you guidance and education.

No one wants to stir up a stink that would attract government regulators.Maybe you could try your local (small) banks.

Real estate might still be the least-worst thing to be invested in right now.There's also the very real possibility of higher inflation - the Federal Reserve is actively targeting higher inflation so as to make the huge amount of both government debt and household debt out there more manageable.

Not sure what happened in your area your talking about, but I own a story and a 1/2 that was built by the government after wwII and we've renuavated it beautifully.

I confirm everything with the governing entity.

As a fellow North Carolinian, in addition to most of the comments above, I'd recommend you check out our state law governing contract for deeds.

It's with the government.

Actions define the application of the law.Of most importance, can you afford to defend yourself in a lawsuit should a seller, buyer, licensed real estate agent, real estate company, lender, local government agency, or a state government agency sue you for your actions?

I see where you have referenced tax penalties as your basis, we are not the government nor can you tie any justification in lending to what the government gets away with.I suppose the initial issues Dion pointed out still exist.