KBKG was the first company ever to launch a self service software for properties this small and it has been through IRS audit numerous times.

KBKG was the first company ever to launch a self service software for properties this small and it has been through IRS audit numerous times.

On a personal note, I was audited by the state and found out that the bank I opened my "trust" accounts with for my brokerage with did not actually open true "trust accounts" for me.

Yeah, here is the passive activity Audit Techniques Guide which is interestingly not available on the IRS website any longer.

Passed two IRS audits, an investigation by the Ohio division of real estate due to a scammer tenant that filed a complaint.

I spoke to local owners who have been audited for increasing rents without there permission and they had to pay back the difference!

The CFTB also happens to be even more rigorous than the IRS when it comes to auditing and reviewing 1031 exchanges.  

I am a tax attorney and i still am confused, and I am willing to bet that most people will be putting it on schedul e, not paying se tax, not calling it passive, and deducting losses against w2 income, and playing roulette with audits.  

Also they must register with SEC and submit yearly audited financials and semi annual reports.

@Adam CookIn order to get succeed at multifamily syndication projects, concentrate on reading materials, coming into contact with others, group making, market analysis, audit, generation of capital, and realization of contracts.