My assumption would be that the bank would still follow through on the foreclosure with the house itself but whoever buys the parcel of land at auction would have it without having to worry about the bank. 

For you, this might be a profitable niche and there are lots of investors that do very well with the seller finance method.I'd caution against the idea of using seller financing to make it easier to sell, followed by selling the note so that you can re-capitalize quicker.

Lenders seem to push the points hard, leading me to believe they get paid more if you go that route.As far as your interest rate, that seems really high.

I imagine there are similar guidelines in each state.As quoted from TSD 300 (revised March 2018) "The following sales and services are exempt “per se” from sales/use tax in West Virginia:The term “per se” means by, of, or in itself.

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Again, wholesaling can be very lucrative but don't jump into that out of fear of pulling the trigger on a rental, because the fear will follow you.

If there is a mortgage attached to the property there's a 99.99999% chance there's a clause in the mortgage that requires it be paid off when you sell - regardless if it's in your personal name or an LC.Yes, it does complicate things when doing 1031 - but not really... there are rules you have to follow to stay in compliance with 1031. 

Late follow up, but are you still able to entertain that offer?

The people on BP that I follow and ask advice from the most tend to have better ratios.