Often there are some seemingly good deals you may see either in the MLS ( Realtor.com ) or on HUDHomestore.com.

Sometimes they appear on one but not the other.

There are general guidelines:

1. Most often the deed listed buyer must occupy for at at least 1 yr and cannot buy another for 2 yrs. subject to $250k fine and jail time.
2. They are as is period. You pay to turn on/off utilities and rewinterize any plumbing inspection.
3. Since they are as is – your min. $500 – 1000 deposit will not be returned.
4. Bids are usually open for 10 days, then decided on daily for the next 5 days.
5. At 15 days on market, there is a possibility for investors to bid.

For more reading: http://investfourmore.com/2013/04/06/owner-occupants-guide-to-purchasing-hud-homes/