She was recently laid off from her job but cannot go back to work because they have a 7 month old baby who needs more medical attention than most babies due to a birth defect.

I really can't afford any exposure that would wipe out these investments.  

Andrew - thanks for the advice on putting together a buyers list - I just started this "whole thing" six weeks ago and have been so busy marketing and trying to get deals that I didn't network at the meetings like I should have - I was just chunking it down into baby steps to keep from getting overwhelmed lol

@Mas YoshidaWhen I have run our numbers, where we are getting about 1-1.25% of sale price as rent (100K house renting for $1000 - $1250) by the time we take the depreciation, it wipes out all of the 'cash flow' profit, so now taxes currently due.If you are going to leverage with any non recourse loan, I have found they do NOT want to lend on; Pre 1950 properties, houses converted to duplexes (at least older ones), or loans less than 50K which would be a 125K property at 40% down payment. 

Whether you go for it all at once or take baby steps, I think real estate investing is the perfect "part-time job" to create wealth.  

There are plenty of baby-boomers unloading properties they no longer want as they head for Florida.  

I also have a new baby, so having someone rent a room also wouldn't be something my family would be comfortable with.

and if there is enough equity coverage,,, go ahead and wipe,, I will slap a lien on you, one day I will get paid. 

Looks like a vacancy factor and capex thrown in would wipe out any cash flow.  

But don't waste too much time babying and pushing him to fit your standards. just do you even if it means cutting him mostly out of your life.