I've recently rehabbed a 2flat and have closed on a pretty turnkey 7unit building.

Congrats on making a mental commitment to this industry.  

In these states I assume that just like a standard foreclosure, all funds acquired during the sale that exceed the outstanding contract balance and any liens on the house go to the contract buyer (vendee?)

Avon, CT is a hot market, with multiple offers being received the weekend of the open house, which is scheduled one week after listing.My offer of $725,000 was $20,000 lower than the highest bid, but was accepted without counter because it was not contingent on financing, while the highest offer at $745,000, while the buyer had pre approval financing, was subject to financing.

House 1: 2000 square feet, 4 bed 2 bath.House 2: 2000 square feet 2 bed 2 bath mother inlaw suite.House 3: 2000 square feet 3 bed 2 bath mobile home on a 1.6-acre lot.Location is Royse City TX 75189I am not able to set a correct monthly rent for this property, need advice from experts.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

I am on one loan and title, he is on the other.

Some lenders may allow up to 85% financing on a multi-family purchase. 

Short term rentals in the past on lakes in this area have done very well, but things have changed post covid, interest rates rising etc.

Whoever is the owner claims the property on taxes.