Possible hyperextension cause of toe sprain july 1st. Now experiencing toe pain, red bump, inner ankle pain, limited toe movement, stretched skin?

Get a definitive dx. I agree with dr. Michalski. Other things that should be considered are medial ankle sprain with a plantar plate injury or post-traumatic arthritis of the MTP joint. See a orthopaedic foot and ankle surgeon for a definitive diagnosis. One in your area can be found at www.Aofas.Org.
Tendon tear. Likely of the flexor hallucis longus tendon, as per your description.
Many possibilities. Your pain could be as a result of many different things. A thorough history and physical exam and possibly some laboratory and radiology exams are needed to determine the exact cause. Causes of pain may include: trauma (fracture, sprain, arthritis), infection, metabolic conditions (gout), musculoskeletal or biomechanical abnormality and neurologic conditions (neuropathy).