I constantly warn people that there is simply too much risk for the average person in an auction: House full of mold, honoring the existing tenant’s lease, meth houses, current owner pouring concrete down the pipes to spite the new owner, evictions, finding out you just bid on an inferior lien (like you just did), municipal liens, back-due child support, IRS liens ... the list goes on and on.At least you only lost $16,000.  

t=52 it says you won't be able to rent to your son and his family.In the bill it says "§ 214 (G) THE LANDLORD SEEKS IN GOOD FAITH TO RECOVER POSSESSION OF A HOUSING ACCOMMODATION LOCATED IN A BUILDING CONTAINING FEWER THAN TWELVE UNITS BECAUSE OF IMMEDIATE AND COMPELLING NECESSITY FOR HIS OR HER OWN PERSONAL USE AND OCCUPANCY AS HIS OR HER PRINCIPAL RESIDENCE, OR THE PERSONAL USE AND OCCUPANCY AS PRINCIPAL RESIDENCE OF HIS OR HER SPOUSE, PARENT, CHILD, STEPCHILD, FATHER-IN-LAW OR MOTHER-IN-LAW, WHEN NO OTHER SUITABLE HOUSING ACCOMMODATION IN SUCH BUILDING IS AVAILABLE.

I would compare it to having a child (but I wouldn't know, don't have any) the process is awful and you're going to doubt yourself, you'll wish you could go back but right when you think it can't get any worse they pull it out and hand you your profit check.

We got together when I was 18 and she was 19 and spent our money freely and never budgeted for several years until we decided we wanted to settle down, start a family and start planning for our future.I was able through persistence and luck to secure a lucrative job in the oil field around the time our first child was born.

She also gets $1300/month in child support.

Look into Series-LLC if available to you, so you can create a child LLC whenever you need one. 

Some admit they 'worked off the books' to avoid child support, others just had no clue how to take advantage of the many tax deferral plans or appreciate the advantage of Social security later in life as most have nothing saved. 

If, for whatever reason, the property gets foreclosed on is the child going to have repercussions? 

Moved after four years to buy a single-family house before having our first child.

I have my kids do work on the rentals with me.  Two are now 18+. I am learning that they need a 1099 for work completed in 2019.  Are there any hints on how to go about this?  The IRS instruction page was 13 pages in ...