Gotta always watch those gray areas!

Please let me know what you guys/ladies think. 

I would suggest you google floods in the area and watch and learn.

Hi Ann, That is very very helpful indeed Can you or anyone recommend also some really reliable high level PM property managers that watch our back as investors and are very active hands on ( advanced with their transparency online system and really good as PM to advice me as to viability of certain properties for rentals ).

In that case find a partner who can help you and watch what he does so you can do it next time yourself.

Hello @Jeremy Simpson- I'm not a big a VT fan (from Florida), but enjoyed watching them in the Vick days!

The trustee who was very stubborn and had known the lady 30 years refused to update the property or charge market rents.I wondered if the property would be picked up at the price, but knew if it wasn't then most buyers would not want to deal with the difficult trustee.

I'd also watch to see what that property sold for, going over asking price on a hud isn't really a wise idea typically.  

All the education you need can be gained by reading a few books, asking questions in the forums, watching some podcasts, or maybe networking with other investors.

Network, talk to other investors, spend time on this forum, watch youtube videos, read books, the more knowledge and understanding of what is involved the better!