How would an auditor be able to tell the difference between a $300 withdrawal to pay a contractor and a $300 cash withdrawal to put in your pocket (i.e. tax evasion)?

I am a certified project management professional (PMP) and a tax analyst/auditor by profession, but I've played around with the idea of accepting a pay cut to work somewhere in the real estate industry.

There was an article in April about almost half of all condo investors not being able to cover their mortgage with the rent they are getting.https://betterdwelling.com/cibc-over-44-of-toronto...Having been an auditor in a previous career, I've never been a fan of them especially later in their life cycle.I agree with Matt in that the cash flow properties are outside of the GTA.

Anyways I'm in the middle of finding my first few deals, basically I got a targeted audience list from my county's auditor and controller and executed multiple direct mail campaigns with my offer.

If you never buy a property and get audited your auditor may see it a different way but hard to dispute if you do purchase a property in the near future that's how it was explained to me but please take this with a grain of salt as I am no Accountant.   

@Timothy Rosales, you can also start on your local auditor's website and search properties for free in chosen zip codes (at least that's what I've done in Ohio).

This is likely what the auditor is looking at to make the determination.

You could have also gone to the county auditor's office and found out the actual square footage, to be honest.

@Steven Hamilton II I work in Public Accounting as an External Auditor (riveting stuff, I know).

The county auditor’s site will still say 2 bed 1 bath instead of 2 bath.