If a buyer is allowed to pass after a winning bid by not submitting the contract to HUD, is he/she allowed to bid again the next day?

My mom is selling her home and I am considering becoming the buyer for two reasons: 1) She would sell it to me at a much lower price than another buyer. 2) I can see how I can take it and turn it into a profitable cash flow property.Let me explain: It's an old 1 family home that is very small BUT the lot is big enough to completely demolish the current home and build a house that can easily have 4-5 One Bedroom Apartments which can go for $1,300-1,500/ mo. in the town where the house is located. 

As long as you connect with good sponsors you'll have access to deal flow that provides truly passive income and capital appreciation in a tax efficient vehicle.One final suggestion: if you go this route evaluate/underwrite a ton of deals before you participate.Happy Hunting Darin!

Being out of town buyers and this being our first deal is a real hurdle. 

As time has gone on, the properties I purchase are getting nicer and nicer which is leading me to consider selling some of my cheaper properties.Since I have only been a buyer to this point, can someone give me some tips on selling my properties?   

Yes if they are actively working with you as a buyer or seller.

And don't forget that the redemption period would require the buyer to pay you for all upgrades +10%. 

I would immediately put a 4 unit listing on the MLS as it gets maximum exposure for that type of buyer.

I've gone through enough real estate education to know that just about everybody recommends pinpointing certain areas -- zip codes or sometimes even neighborhoods -- in which you see a lot of cash-buyer activity and targeting those areas to find houses.

I have found that you, the buyer, are the best person to find the house that you want.