The letter then talks about the risks of using a discount broker, all the ways the agent can net the homeowner as much or more than a discount broker, makes an irresistible, completely risk free offer for a “Free Home Audit” and a “Free Special Report”.The agent also uses a few great testimonials and statistics about their success (proof).

[Life Audit] 🤔As Brandon says, there are many ways to skin a cat.Your answers (no right or wrong) to this questions should help you determine your next course of actions. 

Check out the book on Tax Strategies in the bookstore and you'll learn some tricks.I had a CPA that was good at filing taxes (we survived an audit) but she wasn't good at giving me advice on how to reduce my taxes.

I learned very early in business(due to an IRS audit) that there are 2 ways to minimize taxes.1.

If your investment can't carry professional management, how good of an investment is it.If audited and it was determined that your management was a prohibited transaction, it would blow up your IRA, disallow it and suddenly become all taxable.

Nevertheless, there are strict requirements and tend to be a red flag for IRS audits.

Do you know how to appropriately keep your records to substantiate all of your deductions in order to successfully fend off an IRS audit?

I really don't feel like getting audited :D...

I've audited thousands of amortization accounts and I've also disproven every variant of this theory on Google sheets posted earlier in this thread.

While we don't necessarily have the time to manage the properties 100% ourselves, we at least do have the flexibility to be moderately involved and plan to keep the property manager accountable and regularly undergo thorough audits of incurred expenses (i.e. request bigger ticket items $150-$200< to be submitted etc).Through a mentor (very large SoCal real estate investor involved in large Industrial, retail, and with vast experience in SFH-MF), I've been seriously advised against hiring a property manager - he's warned that while the baseline fees appear to be a good deal, the inflated repair bills, stalled evictions, and mismanagement will eat up cash flow and money out of pocket will be needed to make mortgage payments - even with the best PMs.Out of curiosity, what has your experience been like with property managers?