The sale proceeds likely won't fully cover my loan.I have a few questions: What documents will I need to complete the buyout of the first lender?

There's no step by step guide but there are key things : Learn: RE strategies, what interests you, what do people in your area need.Connect: find a mentor, accountability group and be around those doing what you want to do.Help: solve problems- do people need dealflow, property mgmt, construction expertise, etc. 

Best approach for raising capital is to solve someones problem.

If you ever have any questions as a new member feel free to reach out I enjoy helping. 

Appreciation is very much possible, but my question to that is when do the markets reach their peak and prices start to soften up a bit. 

@Tricia O'Brien a list of questions is almost useless - unless you can VALIDATE the answers!

To celebrate BiggerPockets book sale happening NOW Brian is answering your questions!!

Yes. the original lender probably will not but a new lender may- there first question is gonna be what is your exit strategy so be prepared to answer that question.

The person checking the unit just said needs replacing so we did but it did not solve the issue. $6000 repair. 

To get a deal, you have to find a problem to solve.