This particular property is a Short Sale in Cincinnati, OH and has about $2k (1 years' worth) of past due taxes on it.My contract with the Seller reads, "At closing, Seller shall pay or credit on the purchase price (a.) all real estate taxes and essments, including penalties and interest, which became due and payable prior to closing...."

Nobody even checked the title of the homes to see who the owner was, but if they ever did, I would tell them that I was part of the investment using my credit to help out and do the management, but ultimately my boss gave the money and had the control.  

If you are prepared to take that much risk with a partner I would say  take LUCK off the table and go for it. 

The issue I have is that I have some credit card debt thats holding me back making it very hard to save for capital for a down payment.

Are YOU prepared to pay all her bills until she passes?

@Athena Lei The money judgement will stick on their credit report.

If I own the pharmacy, I have:Rent - a premium, high-rent payer,Credit – tenant has great credit,Building - vertical improvements in the form of the building,Site Improvements - in the form of a parking lot, curbing, storm controls, etc,Zoning – I own real estate zoned for a broad variety of commercial uses, andReal Estate - I have a great piece of underlying ground on the hard corner of a signalized intersection with the highest traffic counts in the area.There is a market for this type of product.

Laying out an effective tax strategy involves a lot of work at this level, so just be prepared for this to not be quick and easy.I'd start by first having a meeting with your current adviser and ask them to explain their current advice.  

I have not even reached a point where i can put an offer on something and gotten out bid ( am am expecting that will happen often and am prepared for that). 

I don't even have a credit card yet, but I probably should to start building credit.