The problem is, none of it is based on actual comps, and again, the word "cute" doesn't have anything to do with setting those numners.What you need to do is a full analysis of the comps for both rent and sold in your area. 

I would consider selling one of the properties, paying off the debt, creating a reserve for your remaining investment, and ensuring you are 100% financially stable before you invest again.

In addition, the company that they recommend we work with, Prime, helped me set up my companies and though I repeatedly asked them if there were any differences in how it was set up because I was a Canadian, I was told that the way they suggested I do it was the right way.

Quote from @Red Smith: Sheriff Sales are conducted by counties, so each county will have its own individual rule set for how the auction is conducted.

Consider consulting a real estate attorney or CPA to determine the best strategy based on tax efficiency, future sale plans, and estate considerations.

First, lets set some inaccurate information straight. 

I'm also considering the greater Salt Lake City area, as I have family there and am up there quite often. 

@Brandon Bell, a few things to consider:1.

You are not going to buy land and put in a mobile home and the lender in 6 months will consider it a single family home.

But I would not consider what the seller needs to make in determining what I'm willing to pay for a property, especially when youre buying a problem like this.