Yearly audited financials

The accounting needs to satisfy the IRS requirement for record keeping in case you get audited.

However, this also puts me at risk of an audit. 

Within the IRS technical audit guide they specifically highlight being several hundred miles away from the property as a potential red flag. 

The SEC audit or a lawsuit will cost you a lot more money in the end. 

If you were audited and it was determined that you bent the rules for another renter, for any reason, at any time in the past, then FHA could ding you.

The borello law & the ABC test are killing gig workers and the EDD is auditioning them at a voraciously pace.

So then they need to sell them, they start doing audits. 

Basically an informal audit of ones portfolio.This could be as simple as creating a few benchmarks (specific ratio of expenses, total PM fee ratios, vacancy rates and duration,etc)As much as one could assume they have a well oiled portfolio, an outside investor could find areas of improvement.

The last thing you want is the IRS showing up on your door step or for you to be caught in an audit and unable to support your stance. 4.