You can also go online to your local property valuation administrator or county auditor and see what the bank paid.Often times a bank sets an internal number at which they are willing to buy the property back, that they will not bid beyond at master commissioner sale.

There are many ways to get caught and in the end, there is nothing you can do that will out smart the auditors to hide such a loan.....mainly because some will simply knock on the door and see who is there!

The IRS has documents describing this designation, including one to be used by auditors to try to refute your claim.

If the audit leads to a different outcome, and your point is still arguable, appeal to an investigator or higher level auditor.

I also noticed that nearly all the other homes in a 2 or 3 block radius were pricing quite a bit higher then what the auditor listed their home's value.

Lenders are scared of the big bad Auditor.

You will find it much more active here than any accounting board because good ole Josh keeps you accountable for your influence while learning about the RE stratagies of several investor types while not spamming them.Any way welcome aboard, from another accountant type (auditor actually).

My acct invited the auditors' supervisor to join the audit.

The County Auditor page says the same, value $934k.

I take a screenshoot from the Auditor Site, under Flags you find a Y (yes?)