Proceeds from the trustee sale will go to payoff the 2nd and if there is any remaining the balance will go to the now former property owner. 

I was planning on crashing on a friend's couch for the couple days before closing and then living in the new property for the remaining time.

I would pay my brother off his share (we agreed he would only get $20,000), and I would take the remaining. $25,000.

From Nolo.com and if your rental is in North Carolina: "If you don’t have a legal justification to break your lease, the good news is that you may still be off the hook for paying all the rent due for the remaining lease term.

Considering you actually need to qualify to get a mortgage in 2017 and the fact I don't see the crazy things happening that were going on in 04-07, I only see the greater Phoenix area remaining strong without something unforeseen like WWIII.

All expenses (Purchase, Holding, Rehab Etc.) get paid back to Party B and then the remaining sale proceeds (profit) get split X% to party A and X% to party B?

One way I could do that is by only targeting (for example) NYC, Bay Area, Denver, Sacramento, etc, properties with lots of equity that will still be cashflow positive at 7.5% according to some AVM that I'd run on my portfolio of twenty thousand notes where the owner is in violation (they can see it the instant you put it in an LLC, even if currently they don't do anything), those properties thus flagged of course tending to be prime real estate and cashflow cows, and I'd let the "meh" properties remain in their LLC without doing anything.

I do think the market will remain strong for another 2 years so if you can find the money to put into fixing up the home and keep renting it that is what I would do.

Either way, my main point regarding mee removal from a home or building remains the same, to avoid bees from infesting in the same area again, the phermones must be removed and thus the area needs to be cleaned and treated regardless if the bees were killed or removed alive.On a personal note, I have tasted the most delicious and most fresh honey straight from a honeycomb from an infestation.

With Holidays fast approaching, and school in session, most markets are slowing down and will likely remain slow through February or March.