... or risk losing it and your properties - AND personal assets/possessions -  in litigation?

You obviously need to take possession of the property so you should have a real estate investor friendly attorney take a look at any language you add to your PA and make sure you are at full transparency. 

We have a very large population over 70 years of age that possess a lot of real estate.

@Mike McCarthyThe rent allocation between the vendor and purchaser is an adjustment made at the time of Close based upon the day of the month the purchaser takes possession.

So many properties that went to Sheriff Sale, prior to the change in stance by the PA Department of Revenue, with deceased borrowers where no probate was ever filed, are now in the possession of new owners who have no idea of this silent lien occurring and being in place on their property. 

Would there be additional filing requirements for the LLC taking possession of a property in LA?

I am hopefully in the last stages of eviction through my PM's attorney-hopefully I will get possession next week.  

When you win the auction, pay your deposit, and then the remainder the next day, how long does it typically take to gain possession of the property? 

Owner/property manager needs to file the paperwork for a judgment for possession if for non payment of rent or for anything else one needs to file a notice to cease and than a notice to quit and than you may file eviction paperwork.Once you have been awarded  judgment for possession you need to file the certification on same day and than wait 3 business days and file your warrant for removal.

County  council is trying to pass laws that allow the county to take possession of properties that are behind on fees.