@Craig Jeppesen yes I'm excited to have my first child and was thinking about that too, wish he/she was coming sooner then Feb.

I have zero knowledge regarding this area, therefore, i am trying to set my foot wherever I can, in order to gain some fundamentals.

Putting one foot ahead of the other until everything gets figured out. 

The rest is a mystery.For example: the fee for a rental with a single filer with no activity other than three rentals is going to be very different than a MFJ filer with two high income W-2s, portfolio income, three kids (child tax credit and childcare expense credit), a Schedule C business, and three rentals. 

Looking at some other properties for sale in Penrose, it appears that properties for sale are going for $15 to $40 or so per square foot including the ground and building.

My core bank will is doing the infrastructure loans and verticle .. infrastucture will avearge about 50k per lot. build costs to go verticle right at 110 to 120 per foot..

OK, so in WI if you bid on a first mortgage, all other liens are "foreclosed out" with the exception of government liens and often you can get those removed if they are not for the property, like back child support, or income tax for example. you should buy a title policy if you are concerned, I usually dont, because I know the Sheriffs Deed is as close to Virgin Title as possible (assuming you purchased a first position) I dont think you have anything to worry about. 

I do remember my first post and made sure to articulate a complete sentence so i didn't start off on the wrong foot.

They would have the be insured/licensed because the garage is a foot or so from my neighbor's coach house and I don't want any liability issues if something falls the wrong way.Any suggestions?

@Brian OShea  Ask the daughter if her only source of income is $700 a month (is the baby's dad paying child support?)