They were more than happy to give me copies of their utility bills if I was going to put more insulation that would save them money. 

The alternative is to sell my current residence, use some of those funds plus my current savings to buy a rental property + new residence.

That would save you from having to move twice in a short period of time with a newborn.

Some people come from money, some people had a previous career in finance and know lots of investors, some people are really handy and save a killing on fixing things. 

Save yourself the hassle and network with as many brokers as you can. 

. $400 is cheap, that is good, saved yourself some $$

I would run the numbers on how much money you will be putting into this property over time, and whether you would like to visit many different places over time and possibly saving money.

That they cannot bully and use me to save their own money.I need to know for sure that this is the case tho, because I definately see your point and that gamble scares me.

Why not rent and get some roommates to cover most of the rent...... then take the capital you do have and either save up or find somewhere else to invest it.Around me (expensive area) not all landlords are into properties for the same price... if you hunt down a good deal and act fast you can rent a nice place far cheaper than buying it.

@Nick CausaI'm about to get on a soap box for a minute - save up for an emergency fund.