I stumbled upon BP, asked dumb questions, received a lot of great (free) advice and help, and I now own 5 investment properties (2 of which are mid term) along with a current live in flip, continued success in my career and index fund investing, and hit financial independence at 41.

This can get pretty complex, pretty quickly, so just keep that piece in check for audit documentation and make sure you have good records on all of it.

They maintain access to the house managers and meetings, and while we make the transition to independent living as seamless as possible, they are essentially on their own. 

Assuming the property owner isn't playing games, why would an independent appraiser inflate the value? 

The size of your tax return, whether it’s 250 pages or more, doesn’t inherently increase your chances of an audit.

The IRS requires a very detailed mileage log, so if you are ever audited, you run the risk of losing your mileage expense if you simply estimate.

Since then, I’ve been listening to BiggerPockets, On The Market, and Real Estate Rookie, and I’m currently reading The Multifamily Millionaire by Brandon Turner.A bit about myself:I'm a 31-year-old software engineer looking to become a long-term multifamily real estate investor (REI) and achieve FIRE (Financial Independence, Retire Early).

Quote from @Rajagopalarao Paidi: How much value goes down for a house with foundation issues, found a house for FixNFlip, they mentioned it has foundation issues and they got them fixed, but whats the value reduction from market price , How safe it is to purchase house like these Not safe at all unless you have an INDEPENDENT inspector who really knows foundation issues gets all the documentation from the seller and talks to the seller’s contractor and then conducts his own inspection of the foundation, house, and surrounding lot.

Proof of Services.Be prepared to provide proof of the services performed and hours worked, especially if the IRS requests this information during an audit.6.

You will not get audited due to land values you report on your tax return.