Perfect and comfortable for two families, children, and maybe gramps and gramma!  

I just want to get more comfortable taking that risk! 

This would eliminate the need to find an Attorney willing to close something they are not comfortable with.

Hey Michael - we definitely have a lot of consensus here - based on the facts in Texas, I would agree with you that it sounds like the burdens and benefits of ownership (or at least a significant amount of them) are transferred as of the auction date, and based on what you stated, I would also feel comfortable taking the same position for a TX property - it would certainly not contradict the revenue ruling given the related restrictions on the property and taking possession are an entirely different fact pattern, making the ruling moot in your scenario.Which I think highlights even more one of my closing points (and your point as well on Jurisdictions) - this likely changes wildly by jurisdiction. 

Which made me feel comfortable moving forward.

Get out of your comfort zone.

Be involved with your management company and realtor until you completely feel comfortable.

Which made me feel comfortable moving forward.

It takes me a while to develop a comfort level.    

If the market goes bad, well, they will just be comfortably retired.