Hi Kathryn. On HUD foreclosures, during the initial 10-day period that the property is on the market, preference is given to buyers who will owner-occupy the property. I suggest that even though you may not be an owner-occupant to bid anyway. I have had investors be awarded the bid on the 11th day (when the bids are reviewed) because no owner-occupants bid or the bids submitted were not acceptable to HUD. Even though the owner-occupants are given preference, your bid may simply be better or more acceptable. Don't wait until the 11th day to place your bid because other buyers will be watching for the results just like you. If you have your bid in already, HUD can simply accept your bid rather than waiting a few more days for more people to bid.
On the VA foreclosures, again preference is given to the owner-occupants but there is no 10-day period like on the HUD properties. Good luck to you.