Or if the 2nd floor tenants are actually unreasonably noisy, send them a warning letter and then if no change, ask them to leave.That said, if you want to placate the first floor tenants you could have an "energy audit" by RISE Engineering where they look at the house especially in terms of heat loss and come up with a proposal to add insulation and other energy-saving features (and give you free LED light bulbs :).I'm not saying that insulation is the same as sound proofing at all.

Then they'll have to use whatever documentation you have to ascertain whether it was a full or partial exchange and to put together the information they'll need for filing your form 8824.And after all that is said and done, you'll still have the unenviable task of explaining the whole thing to the field agent who audits your return - if it gets audited.

I think you're probably going by it the right way and will sleep well at night.IRS audits aren't fun.

He did business audit accounting for a few years after school then left to pursue other interests.  

., specifically to avoid fighting over this issue on audit).

when buying a note you have to board your loan with a servicer, try http://www.richmondmonroe.com/Services.aspx they handle all the document process when you receive you collateral file. they prep docs for AOMs and ALLONGES, file audit and look for any missing docs as well as safe keeping.  

If the property really wasn't yours and you were more of a nominee/agent with your name on all the legal documentation on behalf of your parents, in all likelihood if the IRS audited you and had all the facts, they would probably disregard the legal ownership and treat your parents as the true owners for US tax purposes.Even if it was a gift, gifts are not subject to income tax but would be includable in your estate and since your non-US person parents were gifting US real estate, they would be subject to US gift tax on the excess of the gift above the annual exclusion (15k I believe).

Some time back I ran across the audit guidelines on the IRS web site.

They say I owe $6656.52 for 2010 and they just sent me another audit letter for 2011 . . .

Crowdfunding requires a disclosure document to be filed with the SEC at least 21 days prior to first sale, and requires scaled financial disclosure, including audited financial statements for raises of over $500,000.OK, so their's paperwork.