A property that we just bought has two gigantic pine trees on the back edge of the lot. they are healthy and quite attractive, but if one came down in a storm it would probably wipe out most of a neighbor's house.

Virus wiped out sober living home plans.

If so they typically serve all other loans/liens which will wipe them out.

Ex: small bottle of dish soap, a few hand towels for the kitchen, sponges, pledge wipes, maybe a small Candle or a Glade plug in. 

you could place some long term debt on these babies, pull out equity and start investing that cash into a well diversified portfolio of cash flowing properties.

What are things I need to put in place to make this baby work?

As your rental income is greater, then you'll pay taxes on the rental income thats not wiped out by your losses. 

And I have a baby due in August!!

Work at a Bugatti dealership4.loiter around a dock full of big boats 5.get into politics 6.play at high stakes poker table full of rich people looking to through cash away. 7.get some baby tigers and pay rich people to hold them while you sell them on your real estate deals  

If the house is going to auction, the second could be wiped out, so I offer to pay it off for much less than what is owed.