All of this came from a single phone call about someone wanting to rent a home in Denton.Total out of pocket: $0Total net proceeds of all sales related to deal: $120,000My biggest take away from all of this is that it is all about the relationships you build.

@Zachary Bellinghausen, What you're talking about is very doable and many investors have grown their economy to scale doing just what your anticipating - a consolidation exchange where you sell multiple assets and use the proceeds to purchase one larger asset. 

I know in parts of the country were they have to rely on title abstractors to physically go to the court house that takes time.. and what I see taking the most time in the big back east cities we work in.. is trying to figure out the UTL bills.. in our markets here other than the city of Portland the Bills did not attach to the property.. so it was not a worry.. it was just figuring out Lien positions and regular tax's and any other Liens that maybe on the property like IRS etc..   

He is trying to take me to small court claim to get more of his security deposit back claiming I breached contract by entering the house.

@Alex L.Answering your question:With some exceptions, you will receive cash proceeds of: (ARV X max % LTV allowed by bank) - current loans on the propertyUsing Nicole's LTV limit above your hypothetical situation would not reimburse your down payment expenses.

Talk to bankers (REO experts) and also attend court-house foreclosure/auction.

My question for everyone is, How are the courts in areas around the country? 

Its up to you though on if and how you plan to proceed. 

They paid rent this month after a lot of games  blaming COVID and sending us leters that they wont but the co-signor stepped in and got them to pay the rent to avoid and eviction/ruining her credit if this proceeds to eviction.Are we legally binded to address the mold issue and old torn carpet which is due to a bull dog they have without our consent? 

He wants to split the proceeds by giving me 30%, is there a way to talk it to 50/50?