Only upside is audit risks on partnerships are much lower- because there's so much more info you give the IRS up front. 

Prior to that we had several recommended by our attorney's at the time & that was another disaster, an audit & 2 years of extensions because they couldn't get a handle on our REI & Corporations etc.

Also, you'll probably be audited eventually.

And those bank statements tell a story that would trigger an IRS audit if the IRS saw it, not because they're broke, but because they're good earners, but comingling biz and personal finances, presumably to write everything off and look broke to the IRS.From CoreLogic -- "The non-QM share of total mortgage counts declined during the pandemic and reached its lowest level in 2020, at 2% of the market.

Under audit the IRS takes the position that the property is placed in service when it is first being rented, not when you list it for rent.From a practical standpoint you will find yourself pissing into the wind by trying to argue it was placed in service before you completed all of your repairs/improvements.

Our last step is running a forensic audit of the company (S - Corp) and then we will write up the contract to purchase.

This is from an accounting, audit and transparency point of view. 

if you get audited (god forbid).. you will have a professional in your corner to assist and argue on your behalf.

Look into their marketing efforts, tenant screening processes, and response times.Service Audit: Conduct an audit of the services provided by Ace Management and Reality to ensure they are actively marketing your properties and maintaining tenant relations effectively.4.

I got audited for 3 years. all of the above was thrown out.One example I had a business trip to London then to Tel Aviv.