There is a new baseball team coming, new arena football team in town, as of last year, and lots of great local business growth.

I have a full-time career (my wife works full-time as well), 3 boys under 10 that are are playing baseball that I help coach (two playing travel ball - if you don't know what that is, you can look it up under "Time & Money Suck"). 

This is not the way to get started.There are many people who have made millions but have hardly any worth (Jay Z, Tony Gwynn (National league batting average award is appropriate named after this great player), Rollie Fingers (one of best relief pitchers of all time), Pete Rose (all time hits leader). 

Welcome to Bmore , where houses change hands like baseball cards.

Keeping with the baseball analogies, would you rather have 50 single base hits, or 5 grand slams?

Either way, like in baseball, that makes you the pitcher vs the catcher, and gives you more control over the situation.If the county forecloses due to taxes you will probably be out of a home, so "Tick Tock" the clock seems to be already running.An (OWC) owner will carry seems like a quick inexpensive way to buy, although if she has a mortgage it WILL have a due on sale clause and if it's FHA I have heard from others they tend call the due, so think about that.Also, if it were my offer I'd put a cash kicker in to get her to say yes.

I own and manage a small multi-family but I have never done a deal of this magnitude but would like to graduate to a higher league where I just put up the money and someone else does all the work.My question is, what is the due diligence one must do on a deal like this? 

I've found some good resources for prefab and modular spaces for both workshops and larger dwelling spaces. www.studioshed.com (I don't work for them or benefit financially, i'm just a fan) is the one i'm leaning toward as we have a nice sized yard, South Beacon Hill, with an independent alleyway for access and parking and we can get the build for $80k including kitchen and bathroom, all electrical components, doors/windows etc (I would have to put it all together or hire someone to do that) but not incl permits, site work, utility connections and foundations.I've been quoted in the range of $260-360K for a complete package with a design build service which is out of our league but the DADU' presented do look awesome. 

Plus, there are the normal things that come with having a young family such as bicycles, skate boards, baseball bats and gloves, footballs, etc.  

Real estate is not unlike baseball in this way.