Presumably the Note for a discount, but I don't follow if he has to buy a contract for an assignment (assuming it is different than a Note).

You on the other hand are not looking for a profit since you presumably already made it and just want to be made whole.

Of course, you'll presume same for any and all mortgages.But the real attraction for most property tax deed-type auction buyers is that all junior, subordinate secured liens are extinguished. 

If we pay back those unfriendly lenders (i presume you mean china), with inflated dollars it would effectively reduce our debt burden.

You're presumably only going to get returns based on your investment, so just go it alone, or with maybe one partner.

A few details:+ house has been listed, de-listed, and re-listed 3 times (presumably with different agents?). 

I have no idea what else TIF money would be aimed for, but presumably to somehow encourage rapid development. 

He said he would get me a rough estimate in a couple days.Then a few hours later, presumably after he started realizing the value/profit that was hidden in this house, he text me and asked if I would be interested in selling it to his company.

I presumed that I'd need something of this nature to give to my Title agency for closing.  

It sucks taking losses, and while Id never suggest to someone to buy a cash flow negative property, but you already own it, and I presume you have a high income and can incur that small loss.