was it worth the price of admission? 

I would not do it, and I know which one is most likely to hold up best in a downturn, so I doubt that your plan to make a boatload of money and buy back in when the market goes down would pan out.Your theory on never claiming it as a rental therefore selling tax free is an interesting one, though an IRS auditor reading a publicly posted admission that it was a rental may disagree.

And do you have both her answer and her admission that it just a "rumor on the street" in writing?

The barriers to entry for being an attorney are quite high (undergraduate degree, LSAT entrance exam, admission to law school, successful completion of law school, pass the bar exam, undergo fitness of character investigation).  

This is reflected in what it takes to actually gain admission to a selective enrollment high school.

but for moving about the country the Cirrus is a great machine.. if I want to drive to Wenatchee form PDX its at least 7 hours.. as there is no real straight way to get there. in the Cirrus hour or so. and on a nice day flying the north cascades the scenery  alone is worth the price of admission..  

Is the low price of admission not worth it in the long run because of the risk of being killed while remodeling or living in one of the properties? 

I am well aware of who you are as anyone that is even remotely involved with BP should be.The information you provide here alone is worth more than the price of admission. 

Either you will buy it, or you will assign it.The reality, by your own admission, is that either you will find someone to assign it to, or you will walk, because you do not in fact have the ability to purchase it yourself to use as a rental.The fact that you said this to him, and that he knows his stuff, is why you were asked for POF.  

Just throwing this out there as an owner of a 98-year old house, and with the admission that I am NOT a landlord or familiar with tenant laws there....Are the plumbing & electricity up to code?