You will probably want to go the double close route even though it will eat into your proceeds.

Anyone know how I should proceed with this scenario?

If you select your investors who all plan very long term, if the lead team executes well such that all the investors are happy, if you make a profit, if none or very few want to take their profits out, etc, it is possible for the property owning entity, likely an LLC, to sell property A and buy bigger property B with the proceeds. 

Does anyone have any experience with a similar property and if it’s worth it to proceed?

The foreclosure proceedings were stated as a result of divorce and ex not paying the mortgage.

However, the fear of failure has stopped me from proceeding until my now:Here are my goals.:1.

"Amazon said it would proceed as planned with the second part of its HQ2, which will be built in Northern Virginia, as well as its distribution center that it said it would open in Nashville.

At the very least there will be a report, which may be helpful in the eviction proceedings (though I have yet to go through an evection so cannot speak from experience).  

I understand the concept of money working in two places at the same time (because the loan is from the insurance company, not your cash value, which is only used as collateral and continues to receive compounding dividends) and that you’re using the loan proceeds (the insurance company’s money) to make other investments to generate a return (because now you’re earning money on the cash value that is always compounding and the ROI from the new investment), but I’m having trouble digesting some actual, real numbers where this makes sense.  

Update on the situation: I'm still really surprised by how this all worked out, ...but after much soul searching, many conversations with my attorney, and a lot of crunching of the numbers, we found a way to turn this deal into a win/win for all and I made it to the closing table and now own the property :)The details: After the seller made it really clear he was haggling for every penny, I gave it one last shot and offered to remove the request for a $2k seller assist, reasoning that it was not going to make it a bad deal, but may help the seller with getting to the closing table versus heading to court - of course, it did not hurt that the seller's agent told them directly they were under contract and had to proceed.