I pay for all of her living expenses as well as for her full-time live-in nurse out of pocket ($4500/month)The Dream: Add myself to the titles of both and cash-out refi one or both to purchase the new property (which is an REO, bank wants 50% down on 700k) and remainder of loan against new home.  

I know that the fed can take her home to pay for the cost of the nursing home care if she doesn't have any money. 

My wife is a nurse but she only works a few days a month.

Also any buyer looking to get institutional financing won't be able to buy your Tax Deed property unless the title has been cleared.I've written before about UNRECORDED liens, that don't show up on a title search. like Mechanics Liens, Welfare Liens, Nursing Home Liens, etc. 

I'm 25 years old and I work full time as a speech-language pathologist at a skilled nursing facility.

I have worked in Nursing and restaurants for years and never have I studied so much or tried so hard at anything.

If they end up in a nursing home (anyone could) their assets will be evaluated for state assistance, they get caught with an asset valued higher than the can dump it for and end up paying the difference, so, they are screwed again.  

Your $50,000 annual cash flow isn't going to pay for you to be in a nursing home after you get hit by a bus.

The nurse that makes 90k a year..or the high school teacher that cracks 100k thinks they are middle class.

I am nurse by profession, and excited to get my feet into real estate.