The spouses would each typically be entitled to a 1/2 interest in all property acquired during the marriage. Since the home is "under water", the spouse who receives it should be given marital assets to offset the deficit.
The wife would likely obtain custody of their child since she is the primary caregiver, along with an order of child support
the husband must pay.
Here is a link to the NV child support guidelines
to estimate the amount of support he would be ordered to pay based on his income:
is also likely, at least a temporary order is likely, since the wife does not work and due to the length of the marriage. There is typically no set formula for determining spousal support, but the following links sets out the factors courts normally consider:
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