Based on our anticipated offer being approved our numbers will work for us where we are comfortable, however, there are a few outstanding expenses that we foresee (prior to our legitimate inspection).

I had an outstanding realtor (Dakota Cooley) that helped me through this, answered all of my questions, and was there every step of the way.

Lender: XYZ Bank, Principal: 7000, Date: 1/1/2012So the question is if I buy at auction do I have to pay outstanding balance on which of the deed of trusts?

Instead of searching for a specific type of commercial you might let the economic opportunity guide you to a property.One additional note, be sure to keep an outstanding set of books on your CRE.

This is not an auction for the lien, in NC you come away from an auction not as a lien holder but a property owner.The property is valued at say 250K, the junior lien bidding started at 100K and ended at 190K and to the best of my knowledge and for the sake of this question the outstanding balance on the senior lien is 50K.

Your equity is define as:The value of your house - your outstanding mortgage.  

"Transfers to a wholly owned entity (like a single-member LLC) are only exempt from documentary transfer taxes if there is no outstanding mortgage on the property.

@Jonah Richard outstanding.

Outstanding!

Good news first.That could be fixing any outstanding maintenance requests, making the place look nicer etc.