Having a car magnet will doubtfully qualify a person as a REP; I mean you can claim qualifications based on this, but will it stand in case of an audit?

If you're just a customer, don't expect that if the agent is impartial in any way, shape or form -- you are at a disadvantage, and if you don't know how to negotiate on your own behalf, you will get taken advantage of.All that said, if you're not comfortable handling all aspects of the deal, the negotiation, the paperwork, these types of questions, etc -- get yourself an agent who represents YOU in the transaction, and don't rely on the listing agent.Even if the listing agent is serving as a dual agent (representing both parties), you're not getting a fiduciary benefit out of it.

For such a low transaction amount, the PA Dept of Revenue may decide to audit the transaction in order to try to collect more in transfer taxes.

The audits are important, but seem to frequent and Dodd-Frank left too-big-to-fail in place.

Big Box inventory is hard to keep accurate, and I would get bonuses for having an 80% or better audit on my inventory.

I'd first request an audit of your JV and explanation of the downward trending revenue to the complex.  

Michael HealySolid houses check out the interest free energy loans and rebates.If your tenants qualify under affordable housing income guidelines they can request an energy audit.

......and if you did a cash out prior to the 1031 it'd either make a 1031 pointless or get you an audit you could get taxed because it will look like a stepped transaction.But....... you could do a cash out after the 1031 and you reduce the risk of audit/stepped transaction.

How do you report that to the IRS and not get audited?

I work with these audits regularly.