Basically, you gained $100k in equity.

I guess my morals come into play a little bit sooner than some of us, and I believe in equal opportunity for housing.

He lays out a wealth plan that I thought sounded a bit ‘optimistic’.His plan showed that after 15 years, you could have $27 million in equity if you started with only a $20k investment.

With no insurance case would just be dropped, as it would cost more to go after my equity than the legal fees because remember attourney only gets 1/3 even if I have 30k in equity in the property, his cost going after the LLC will be much greater then 10k.  

Currently I still have about 50k in equity "leftover" after I bought out the X and the house is almost completely upgraded (new Integrity windows, fiberglass and wood doors, replumbed, new driveway, re-insulated attic, new bathroom, new 300 sq. foot office downstairs, new septic put in by seller in 2000, new paint in and out etc.).

In many cases they have millions in equity so they just borrow against equity.

I am debating if I should sell my current home, realized strong growth in equity in the past 1.75 years of owning it, amounting to $230,000 - $380,000 (low sell / high sell - according to my thorough research).

Here is a tip that may  work for you ------- THE 50 HOUSE RULE: Make it a project to look 50 houses, with a self pledge NOT TO buy or make an offer on any of them - your objective is to study the market, keep a journal - in it list every property you look at, the square footage, the price per SF, the agents' listing, any comments the agent or the seller makes, keep good notes -After awhile you will discover some very interesting things about this project, 1. you will become aware of values, 2. you will learn how to detect motivation of sellers and agents and 3. this journal will be a valuable asset when you are more aware of the market and you will be able, after you are a little more educated, be able to make intelligent offers that will pay off in equity or cash profits.

It appears he has about 200k in equity, with only the primary mortgage outstanding on the property.Since I am personally a ways away from having any sort of substantial down payment, I'm thinking that he might be able to carry the loan?

I have roughly 200k in equity and looking for turnkey because I live 4 hours from the home and am moving  out of state shortly after the sale.