This doesn’t seem like a wise battle to me honestly Juice not worth the squeeze on that one. 

I am going build resources in case this recession hits so I may be able to buy some properties with great discounts, but as opportunities become available along the way I will pluck them like fruit from the tree.

Otherwise people would get a 2nd job just to juice up their income for 2 months while buying a house, quit as soon as it closes, and (presumably) immediately go into default.

Large MF is great when you are using OPM and your making your money on a promote, juicing your returns.

Foreclosure auctions tend to be fruitful for experienced investors. 

They have to juice returns some way and makeup returns for the volume low rents and intensive type tenants.  

But now its the other way around, my W2/income is much much lower... my other businesses aren't as fruitful as they were due to things beyond my control.  

I have a local meetup in Frisco you can check out to get the investment juices flowing.

We paint our apartment buildings every 3 to 4 years, but we have to paint many walls every year because there is a specific ethnic group (won't say) who for some reason blows their snots on the walls and it is some real loose juice that runs about 18 inches down the wall.

As mentioned before I am still a newbie but from my understanding you will have effectively no equity up front and will make a tidy profit should it sell at anything close to it's valued amount.I agree that it might not be the ideal buy to hold deal hence why the above may be the better route enabling you and your wife to get some nice money out to target the market and or properties that meet your investment ideals.Interesting one though and even without the back story will hopefully leave you and your wife with some fruits from her dad.