These numbers are intended to be as basic for now as possible just to better understand

If you only need a basic system then that is fine.

I have little experience in RE but I attended RE school and know the basic principles and laws .

You'll pay a balance transfer fee if you want to take out cash rather than do purchases but at ~3% the money is still basically free once you factor in inflation.

Hi @Anthony Thomas below are my recommendations for more resources for getting some basic info on note buying.

Basically the house has been auctioned/foreclosured.

Which basically means that if the owner or anyone else sells the property. 

Basically, the city itself has already hosted a Super Bowl.

So, I asked an attorney what they thought about this and they basically said that it should work.

So hopefully the CPA can clear that up and I will ask about the sec 121.For your last point, basically I would need to find a 1031 specialist like yourself to assist in the intent and sale of the property?