@Breelon BryantMaybe you could try a side hustle in sales to boost your initial cash reserve.

How will it influence my credit score if I will do a few credit checks at the same time?

I will provide you on what add value options the property has and how you can correct those and boost your NOI dramatically.

I was hoping with payments coming in it would boost my income therefore allowing me to qualify for a loan to redeem the taxes.

As others have mentioned, you do need to look at the opportunity at hand and much you can boost the NOI.

I'd add How to Win Friends and Influence People, and Don't Split the Difference by Chris Voss to your reading list.

PLUS it will really boost my kid's FICO.

A 3% minimum payment on a $20k credit card for example, is $600 per month cash flow with 0 risk - not to mention the peace of mind, credit score boost and increased buying power!

All depending on your goals, would influence what type of deal would be best for you.Go to your local REI and talk to people there about your deal.

For that reason I highly suggest the following books,Rich Dad, Poor DadSecrets of the Millionaire Mind7 Habits of Highly Effective PeopleHow to Win Friends and Influence PeopleThese are all wildly popular books and you should be able to pick them up at your local library.