Use the money you were going to buy the cash flow on the bad deal and put it towards a second good deal.

Good/bad experience?

The detective said it was a clever marketing piece however it was bad timing.

Remember that in addition to the "normal" expenses encountered with ownership in these properties you will have more breakage on furniture, dishes, sheets, towels (you will be providing all of that) and it's not like a rental across town that you can pop in to fix a garbage disposal, replace a bad fridge etc.

I've lived in a lot of different shelters, a lot of bad situations," Pierre said.

I'm not saying that "selling" on land contract is bad, but it's no panacea either.

Does anyone have any experiences good or bad with purchasing HUD owned homes?

Volatility isn't necessarily a Bad thing..you can make alot of money in various ways real fast.On the flip side, you can Lose it too.I love volatility with day&swing trading.

Furthermore, things are never as bad as they seem.

As bad as the real estate market is, it can (and probably will) get a lot worse.