But practically, sounds like you are beating a dead horse. 

(I do not believe that FIL will be very interested in using the proceeds as leverage for purchasing a larger property, but is more interested in a duplex/triplex of similar value).6) the wife and I would co-own with FIL, but actively manage the property Questions:Does this sound like a good approach?

That could be a great way to find and stay engaged with local investors and opportunities. http://www.biggerpockets.com/alertsYou can also search for other investors in that area and follow their journey on Bigger Pockets here: https://www.biggerpockets.com/search/usersAlso, be sure to get plugged into the podcast - it's been a wealth of education and a huge confidence builder as me and my husband have pursued REI and built our portfolio.

Sounds like a professional.  

the code is the code.. if there is a code for variances I have a hard time believing that they can single out the current owner but let you as a new purchaser use the code for the variances.. that sounds pretty odd to me..

That could be a great way to find and stay engaged with local investors and opportunities. http://www.biggerpockets.com/alertsYou can also search for other investors in that area and follow their journey on Bigger Pockets here: https://www.biggerpockets.com/search/usersFinally, if you haven't already plugged into the Bigger Pockets podcast, I can't recommend it highly enough - it's been a wealth of education and a huge confidence builder as me and my husband have pursued REI and built our portfolio.Best of luck to you and look forward to following your journey!

@Paula Ratcliff it sounds like there was already an account with "money donated from lot owners" - is that correct?

@Mauricio Rezende - Sounds good, just wanted to ensure that you fully understand the costs associated with getting your license so you're not surprised once you get started.

Contract callers sounds like a collection company that the debt was sold to.

It sounds like you might be in the lower income niche, which I do have a lot of experience with.