The trick is, that if you like a HUD home, it needs to be an 'all cash' deal where no underwriters are involved, or or it needs to be a home where there are no 'Lender or appraiser required' repairs which means that the home needs to be in very good condition. Hope this helps!
One of the nice things is that they respond very quickly to offers (much quicker than most banks. If you're buying as an investor (instead of to live in yourself), you are "locked out" from offering for 10 days after it's listed, to give priority to owner-occupieds.
Other than that, the home can be purchased with any loan program. If you use USDA you can get 100% financing if you qualify. If you use FHA you would put 3.5% down but you can use the M&M Contractors appraisal so you would not have to purcahse a new one.
I hope this helps.