@Steve Firth 7 years....that's the window for CRA (Canadian IRS) to audit a return.

Be sure you know the IRS rules that allow you to pay no capital gains taxes when you sell your own home. 

IRS and Weed liens are going to be your biggest risks most likely.

You must use the services of a Qualified Intermediary to document the exchange handle the transfer of funds, and guide you through the quagmire of  IRS regs. 

What do you think of buying rental properties in IRS Development Opportunity Zone?

I think it's an opportunity for me to hop in as the manager and make some passive income with a couple emails to clients and a cleaner.I appreciate any feedback!

Also I would hop on Zillow and use the filters to show the last 6 - 12 month sales in the area with similar sq footage and bedroom/bathrooms.

Texas does not allow the garnishment of wages except for child support and the IRS. 

People are saying that a Multi-member LLC is better for Protection but would be considered a "Partnership" by the IRS and involves more complex tax preparation (Form 1065, Schedule L and Schedule K, etc) - far easier doing the simple "pass-through" to my personal taxes. 

That said, there could be additional amounts owed on top of the auction amounts, such as delinquent hoa dues, irs liens, child support, taxes, etc. etc.My advice to any newbie is to generally stay away from auctions unless you are partnered with someone who has vast experience underwriting these deals.