HUD Rental Units and USDA Rental Units
I'm looking at an investment opportunity in a rural community in South Eastern Idaho. The market is reasonable, and the numbers on this property work out great! I found the deal on Loopnet and I think it could work out. It's a seller financed deal and ought to cash flow really well. The seller has disclosed to me that the apartment complex has 12 HUD rental units with 18 years left on the contract, 3 USDA rental units, and 9 open market rental units. I'm just curious what things I need to be aware of when dealing with HUD and USDA contracts? Any advice you have is greatly appreciated!