What are other, non-tax, consequences and risks of excluding one of the spouses from the legal ownership?

Except I don't know the tax consequences of scenario#3.I know the returns and appreciation are not guaranteed. 

The unfortunate situation that many of my clients have faced prior to coming to me is that their smaller property manager was bought out by a larger corporation, and consequently their services were diminished. 

It appears that the advice you are seeking should be coming from, in part, a real estate attorney who can navigate the issues you are dealing with (especially in light of the consequences across the ocean).

I care about total return and have barely a concern about the source of the return but try to minimize the return from cash flow due to the tax consequences.  

Our lease briefly mentions all utilities must be turned on, does not mention the consequence... this old lease is killing me lol.I don't know what the proper response is, could there be a huge utility bill waiting on the other end of this that falls on my lap?

Our lease only says that the utility must be on but does not state the consequence of having it shut off.I don't know how to best proceed.We are in Florida.

What you are describing are the unintended consequences of government overreach:  The Fed has been tampering with interest rates to keep them artificially low for a number of years, in an effort to avoid a recession.

Consequently, new homes in these locations start at $550,000.

Could you elaborate on the consequence if the buyer defaults on the loan payment?