Buying a HUD investment property in the Owner occupant phase
I am interested in a property that is in owner occupant stage. In the past, I have only purchased as an investor. This one is for my daughter while she is in school, but once she moves I want to keep it as a rental. I don't really want to put her on the deed put I can if I have to.
1. What happens if I buy it without being the occupant? It's a cash deal. How do they find out? Do they really check? What are the ramifications? I don't see what damages they could be awarded.
2. When it moves to investor phase, does it usually have a price reduction?