The Buyer(s) & Seller(s) nor their Agent(s) listed below have any agreements (written or implied) that will allow the Seller(s) to remain in their property as renters or to regain ownership of said property after the successful execution of this short sale transaction.†HUD/FHA/VA, Fannie Mae, Freddie Mac & FDIC are now carefully auditing short sale transactions going forward and are also looking at past closed short sale settlements that may have been considered non-arm's length transactions.

If there was an audit by one of the GSEs they wouldn't see the entity owned the property either.

I also got to thinking that we should perhaps audit each of our units before each winter to see what components/tenants could be eligible which would have otherwise been major capex items. 

If your broker agrees, make sure you get it in writing to cover yourself.I won't do anything to ever risk my broker's license and although you may think it's okay, it only takes an audit of your broker's books from the association to uncover this transaction and raise red flags.

You're better off creating a checking for each and at year end just get an outside CPA to audit your books.

You would normally use these to audit the leases provided by the seller, but in this case the estoppels may be all that you have to work with and would have to be taken at face value.

Arthur,Western Reporting ~ $38/perBackground Investigations (BII) ~ $30/perPlease note, you will need to pass an onsite audit prior to enrolling in their services. 

you would need to keep very good track of everything, and i am not sure how the IRS would look at that if you were audited.

Good think I paid for audit defense protection by them every year...I use that in addition to my CPA services for questions Turbo Tax can't answer, but I think ill keep using them with their audit defense legal/cpa/services.

I'll not consider the check book style SD-IRA because my view and maybe some FUD coming from a somewhat well known SD-IRA/SD-401k Attorney saying the IRS is moving to start auditing SD-IRA holders especially if they hold real estate.