Home went to tax sale county kept excess proceeds.

His reason was the only thing he knew to do with the proceeds was to loan it back out at 12%, and he would be "behind" where he is now in cashflow.His proceeds would have given him options up to and including PE, but he is a simple man and in his case holding was the option for now. 

I would see how the home inspection goes (get someone good) and make a assessment than on how you want to proceed.

If it's cheap, high crime area, proceed with caution. 

Pretty sure you cant take a car or anything bankruptcy court would withhold from proceedings.

We have had brief discussion regarding general Q&A information, and proceeded to provide an ARV price range that would be very attractive to me. 

The seller wanted to purchase another home with the proceeds from the sale of this one.

Now let's say one or both people making the purchase owned a condo previously where they roll over the proceeds/equity into the new purchase and put 40% down.

We will open this property’s books to you and to your fellow investors, should you decide to proceed to validate these numbers.

I know some people do this but proceed with caution.