There are random audits, that review all aspects of a property management company; so I never understand how this can happen. 

What aspect of real estate are you looking at?

Is it worth paying for a CPA to do our taxes instead of my wife since she is not an expert regarding the real estate aspect? 

I am running into the same major problems in the showing aspect as well.

For instance, if you are looking for an owner occupied multi family find an agent that has gone through the process with a client and been through the different aspects that are unique to buying that kind of property.

We found and worked on one aspect of real estate, find deals, rehab and rent, all no money down, with rehab money received at the closing table. 

Tough decisions, though I'm not sure I'd want my first to have an "illegal" aspect to it.

Being able to spend little to no time on the time consuming aspects of RE investing while providing the initial funds has helped our business flourish.  

What are the legal aspects of forming this fund?

Most of the tenants do not have a smart phone and or internet banking to be able to adapt to electronic payments so as much as I would like to automate that aspect it’s just not a reality for my rentals.