Of course to maximize your tax benefit it needs to be sustainable over time. 

What's even more frustrating than asking the IRS help desk, is asking a Turbo Tax "Tax Specialist".

definitely need to have lawyer look at it.Risks/additional hurdles- On the practical side, the absence of deeded rights makes tenancy in common ownership considerably more risky than condominium ownership, even where the TIC owners have separate financing.

For most people this will require a lawyer.

I know it's a long shot, but I'm currently having lawyers review the signed subscription documents to see if there's any way to minimize the losses here. 

You may also need to provide additional documentation, such as proof of income and employment, and may need to have a co-signer who is a U.S. citizen or permanent resident.In terms of buying with an LLC, it can be a good option for some foreign buyers, as it can provide additional liability protection and potentially offer tax benefits.

Baselane has the added advantage of synching with your Schedule E you'll use at tax time to file your taxes.

Again with tax auctions, some kinds of tax auctions are referred to as a "free & clear" sale.

I could take look at it for you, and help you understand it if it's a standard lease, no need to pay me, although I am not a lawyer.  

I did all my other due diligence like asking for paystubs, W2s, Tax returns, Employment verification, bank statements etc etc and did not see any red flags overall.