When you file the TDA you will be required to pay all of the outstanding taxes and fees in order to get the process started.My understanding is that the property will then go to a tax DEED auction.  

Since he's been behind on payments, my friend said that he will deduct and outstanding payments from the $50K to cover the debt service.

So far its been an outstanding experience as both @Joshua Andrews and Scott are both highly experienced, self starting entrepreneurs with realistic goals and enjoyable integrity. 

It makes sense because at least the property would generate income as an outstanding debt.

@Cody L. appears to have done very well investing in Houston but I point out that RE investors in san Diego have also produced outstanding ROI. 

Historically, coastal So Cal and the San Francisco area have produce outstanding returns for RE investors.  

If you’re an unbelievably outstanding real estate agent (haha!

So I could borrow/refinance say $200,000 more (bringing the outstanding mortgage to $300,000)? 

I've seen them require the buyer pay all outstanding fines. 4) You absolutely can refuse to take responsibility for the tree.

For example, if a lender lent your LLC the money to acquire the asset, if you transfer the asset to your name, from the LLC, the lender has the legal right to call you on your note, thus demanding that you pay the entirety of your outstanding mortgage, upon sale.