As the buyer, will it all happen at once the day the Judge decided who has claim to the property, or separately?

LLC will offer a degree of separation for you, but you might need to have at least 2 or more members to achieve this benefit.  

I can share them separately.

We use separate contracts - with no financing or incentive ties between them - but I read a thread on BP last week where a snippet of the regulation from NC was posted and it appears they prefer a single contract there.Either way, a 40K option fee on a 94K property is way too much and would be considered predatory just about anywhere.  

I get some of my best work done late at night when the humans and dogs are all asleep (I first typed family and dogs, but started feeling bad for separating the dogs from family).Your goals are definitely attainable, especially in our market here in Jacksonville.

They will hang on to it, and often call when they are ready (emotionally). 

Instead of two loans and closing costs on both is it possible to buy both while keeping the deeds separate?

If you think they are worth something maybe you can buy them on seller financing or just get an option on a separate contract from the house and get the seller cash when you find a buyer. 

So bottom line is I have about 10 separate mortgages I pay each month.

Would each time I get a distribution of profit need to be handled as a separate 1031 exchange, or can I have the 1031 intermediary "hold on" to the capital until all profits have been distributed?