On the disposition of a rental property, capital gains is paid as with any other investment.  

They're sold by broker-dealers who take about 6-7% commissions, and the manager typically charges an acquisition and disposition fee.  

So for this house we bought it early February and our disposition was late may, so close to four months. 

The bank loved the deal, because it allowed them to book-up the loan at full value while also having it qualify for disposition (sale to FNMA/Mac).

If you don't mind working with an agent I would definitely guide you through a few deals from acquisition to disposition.

The requirement of a 20% "bond" or cash deposit may serve several issues, one, payment of costs and Trustee fees of the sale, next, that might be to any bidder at a sale, buying the note yourself could have implications as to the rights of paying off the first, it may also effect rights of redemption for a borrower and that could include obtaining any deficiency judgment and the disposition of the property.It also matters if the note was a cash advanced loan or if that amount was an equity funded note from a sale.

My industry experience includes commercial property management, distressed asset dispositions, and net-leased acquisitions underwriting.

@Chris ReevesIn The Millionaire Real Estate Investor Gary Keller, Dave Jenks, and Jay Papasan outline the different teams in the full operational real estate business.They are: Admin, Operations, and 'A&D' (Acquisition & Disposition). 

Any recommendations for acquisition/disposition?  

Unless you have a hard core disposition, as well as some landlording experience, consider hiring a local property manager.