The Baby-boomers are a different story, the BBs are into OPM and many over-extended fairly quickly; thus, your questions.I am not sure if there is any real security you can provide yourself if you buy a property where the seller has a mortgage.

OK- lets fix this baby up and sell it for top $.

Baby steps, right??

I have a beautiful wife, a baby boy, and one on the way.

Sounds to me like you are already on that path, just forgot for a sec that you don't have to conform, you get to be you all day long baby ;)If you have not read this already its time, if you have read it, you need to be reminded. 

Me and my Wife just had a beautiful baby girl and naturally, my focus has changed to securing a stable future for myself and our family even more so than what the military can offer.

Feeling a little nervous walking in with a baby llc and asking for 75K with nothing to back it but my salary.

You can play to that by stressing that you'll be owner occupying as well... that the property will be your "baby"... that the property will be well cared for... that the property will help you out of a tough spot... that the property will help end world hunger... you get the idea.

We are now going into baby steps #7 of FPU and would like to incorporate real estate into our wealth building.  

I forgot to mention the home is getting a bit tight for us: 1000 sq ft, no basement nor garage and with one baby and another on the way!