First thing first, until you receive official notice from the bankruptcy court, you are free to continue to try and collect the debt you are owed.

Feel free to use me as a resource for any loan-related questions. 

There also is a lot more than just a promissory note and deed/mortgage to be drafted up so you might want to pick up a copy of my book Lend to Live: Earn Hassle-Free Passive Income in Real Estate with Private Money Lending available on BiggerPockets.

He also advised me to feel free to email any questions I had forgotten to ask on the call.  

The information is good, but you can find all of that on the internet for free.

It is not free money. 

Hello, I want to know have anyone ever tried the seller financing on the property that is clear and free then refinance with the bank in 2 or more years to give the lump sum?

I will say having that passive income is tempting but it would come at the cost of doing a full blown condo conversion to free up the capital.Anyways, am I thinking about this right? 

I agree with the above replies, read through your PMA thoroughly.Feel free to connect.

Maybe I moved in to it for 2 years with my wife and then sold it so 1/2 of the $ 1million was tax free and then did a 1031 with the remaining $3 million to pay zero taxes, if I was smart.