Bear in mind that if this is ever reviewed it will need to withstand audit-level scrutiny.

Here is a snippet from our book-First, the historical audit rate of partnerships (Form 1065) is 0.4%.

We do internal audits on our exchanges. 

Amending tax returns increases your IRS audit risk and should be avoided if there're alternatives.If you expect to owe the IRS, you will be risking IRS penalties if you miss the deadline.

That way you have a pretty solid paper trail if you ever get audited.

  (2) That I have a Third Party Audit conducted of my "company" which as stated is a single member LLC.Does anyone have any experience with the above requests? 

or only if an audit occurs?

@David M.The better managed funds will have audited financial statements and typically also submit semi annual or quarterly reports.Those that go regulation a+ also have to submit to the sec so their information is all public.Like anything, some private are better than public and vice versa, really comes down to the sponsor/CEO and the team in the majority of instances.

I'd stay put and I hope this works out for you @Solomon Rosenberg public REIT investment is still way better than private syndication, because of public transparency and the financial progress is getting audited.

assuming work completes after closing.In the event of an audit, is it a red flag if we claim an "improvement" after the closing date occurred?