It is done with a simple click by the teller or by a processor later.Each one of those reported transactions makes it more likely the person will be audited by the IRS. 

The other thing to note is that the IRS only lets you have a 401K loan balance of up to $50K over a 365 day period. 

The upside is I have large passive losses on my tax returns from all my rental expenses so I'm not paying that much taxes to the IRS. 

What paperwork needs to be involved if IRS asks?

If someone comes to me without a property, I usually hop on a Zoom call with them and walk through our property map.

If any of the proceeds touch the sellers hand the IRS sees it as taking profit and you will have to pay taxes on that portion.Net proceeds - Is the net sale, minus any Equity in home being sold.I find a lot of investors who want to purchase less than their reinvestment requirements will do the calculation to see what their tax burden would be if they purchase less than they sell.

All the IRS cares is that the taxpayer is the same. 

I'd hop on Airbnb as a guest, search the area the potential property is in, and find some properties that are somewhat comps (similar location, amenities, size, etc.) and connect with the host hosting the property.

Not only were tax shelters stripped of their tax deferral capabilities, but they were stripped of it RETROACTIVE, allowing the IRS to recalculate tax shelter investors income going back 7 years.  

What types of IRS/CPA approved payments are working well for rents to LLC entities to keep personal and business funds from co-mingling?