Many investors who are in a similar position in my market (another HCOL/tenant friendly area) choose 1 of 3 options.1.

If you choose not to show up, he would almost certainly be awarded a judgement.Of course, you could choose not to pay the judgement, but then he can send it to a collections agency and your credit score will be trashed.I don't see a scenario here where you get through this cleanly.  

Depending on the market your looking to work in.one way I find is to simply call one of the major title companies and ask to talk to an escrow officer and then ask them what companies does he/she see closing private loans in their market..

Places like San Antonio might present more favorable cap rates, from what I read in Forbes recently.Refinancing could free up equity if today’s loan terms are more attrative, though that depends on current interest rates and the property’s updated value.

I can suggest some other areas as well depending on where you guys are looking. 

@Maynhia Stott Many states that sell tax lien certificates/liens allow counties to sell OTC - but it is up to the county to choose to do so.

Not a silly question at all but the answer depends on a few factors.

@William Causey depends on the transaction and the parties involved.Agree with @Dennis McNeely on some of the transaction costs.A different issue though is with an Assignment, the buyer gets to see what you paid for the property.

Choose a multifamily or single-family investment approach, consider low cash flow priority, and monitor interest rates and seasonal timing.

Lending options will look different depending on your answer.