In your case, with a history of passing audits and having a CPA who is experienced in IRS representation, you're in a strong position should an audit occur.Regarding audit statistics, the IRS generally audits fewer than 0.5% of individual returns, with even lower rates for those earning under $1 million annually.

I get DMs from these new CA investors who don't post on the forums - I feel that they could get much better advice from many of the more experienced investors on here.  

This would definitely require some negotiation with the lenders involved, so working with an experienced mortgage broker might help here.

The city's experiencing massive population growth...from what I've heard, people are moving here for the booming job market and, well, the great weather doesn't hurt.

Ask 10 to 15 experienced property managers: "What properties would you buy if you wanted tenants who stay for many years, pay rent on schedule, and take good care of the property?"

In that case, the taxpayer had individuals testify to his character and work in court, which is an unusual scenario and highlights the difficulty of making such a claim.If the TP cannot qualify for REPS, they may still be eligible to claim material participation in the deals, even with less than 5% ownership in some of them.

We all know how that went down ( at least those of us old enough to have experienced it). 

It’s the smarter move, it would mitigate the risk a lot more if I knew more experienced investors.

The word difficult is subjective.

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