Buying a HUD Home

I am from Iowa and in the area that we are buying foreclosures... HUD homes are popping up left and right. I understand the for the first 10 days that anyone that would be occupying the home would get a head start and then investors can check it out and bid. (I don't know if this is the case all over but in Iowa that's the case).
My question is if a HUD home listing price is at $53k what would the lowest price you could see it going for. Obviously if it's going to sell quick I would do my top bid but what about if I want to play around and see what I could get it for?