If that is the same guy his mobile home park purchase info was outstanding and something I am considering in the future. 

If you're a newbie, I believe it is an absolute basic requirement.Not only will it help clear up some outstanding issues and provide a detailed step-by-step procedure, but also the speakers, Shirley Henderson in particular, offer some valuable tips I have yet to see in any book, YouTube video, etc., or anyone here on bigger pockets.For instance, they will go over the process of double closing, how is totally unnecessary and why only newbie wholesalers would consider it.

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).

If there's a language barrier and hearing barrier, plus the "old and I don't give a damn" barrier, a social worker or family member in the home are usually the only people that can resolve such issues without an excess of emotion.

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.

Yea.....borrowed money for any type of traditional funding DP won't fly.You MIGHT find a HML willing to do it, but it better be a damn good deal with HUGE margins.

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.