HUD likes for you to keep the home for a year. A local real estate agent was explaining how some of the investors he works with does it. They buy the house, submit a change of address card, move some furniture into the place and spend a few nights there. After 1-3 months they change their mailing address back and sell it to someone else. If HUD comes knocking - they tried it and it did not work out. Don't think you could then turn around and buy another HUD home as it would definitely raise a red flag. Seemed like a whole lot of work just for the one deal.
I know some agents around here who will certainly report investors who try to do this. Just play by the rules and, maybe, they won't make the rules tougher for the rest of us.
Only way I've seen HUD homes wholesaled is by buying with an llc and then selling the llc.