Just had an IRS audit with someone who took that approach - they got crushed.Remember the human element of the law - it is not just what is on the books. 

I would always still recommend that you make your deeds match as closely as possibly however because confusion in a field audit is not unheard of. 

And technically it would be allowable to sell one property deeded in an LLC and have your replacement property deeded in the name of a different LLC.I would always still recommend that you make your deeds match as closely as possibly however because confusion in a field audit is not unheard of.

So if you are going to pay the same dollar amount for property taxes in December versus January, then might as well get a deduction at a higher tax rate.Perhaps you are seeing less luxury rental sales because they tend to be second homes rather than rentals....Also that bit about higher chance of audit... are you maybe thinking about the SALT work-arounds that NY and other states like CA and CT are proposing?

Just remember that if you’re the person building the spreadsheets, you might be the only person that can understand or audit them!

If you are only flipping a handful of houses a year, you can probably get by with a spreadsheet, but here are some important items you need to track/consider for tax season & business management:Tracking Project Expenses & Revenues to calculate your project Net ProfitTracking Assets/LiabilitiesProfit & Loss Statements showing Profitability of each projectTracking how much you paid each vendor/contractor for filing Annual 1099sActual vs Budget Tracking so you can see what repairs were over/under budgetBank reconciliation to make sure your accounting books match your bank statementsProvides a history of the business, so you can track financial progress or pull past financials in case of an Audit

If it is worth fighting get a good attorney.Your By-Laws may allow you to call for an independent audit at the HOA's expense. 

I had a contract and brought an accountant in to audit the books for my account because the expenses for repairs and turns were so high. 

I won't be using these to sell, just to audit other brokers.Last week it was brought to my attention that if I want to continue to invest in real estate I will have to do so through conventional mortgages only.

It may look more suspicious if you got audited but as long as it is all above board there's no issue doing that.