I was curious, because it looked too good to be true with big white columns (looked like an old courthouse or something), high end finishes, and the same verbiage about taking a loss and might be willing to do trades of some sort.  

It may include some sort of arbitration clause in the event of dispute.

A HELOC should be explored in addition to a cashout, lots of variables here as to what the best route is.I wouldn't put much weight into the neighbors, this is common and as investors we build thicker skin as we go forward via pesky neighbors and tenants. =)I would recommend your plan involve you not paying MI on your new purchase, so coming in with 20% down + would be my advice.

Most lenders want to see some skin in the game, usually 10%. 

I want to put skin in the game of community redevelopment.

After inspection by the city, the city has determined the previous owner made some sort of repair to the door that no longer passes code.

Overall, you should have some sort of business structure for your holdings.

Then repeatIn 2015, my plan sort of changed.

Just until you have enough gravel under your feet .. your machine built and you sort your backend financing out .Best of luck to you !

The judge will sort it all out and from what facts you’ve presented above you will get your judgment.Keep all your docs and communication in writing, for if and when you have to show the judge.