I done retroactive corrections, and my CPA warned that it will invite tax audits.

No, probably not, at 60% LTV, yes that may fly with less concern.Much of it will be about the deal, the parties, collateral, LTV, and how much reliance there will be given to an audit trail of the transaction.

You do not want to raise any red flags with the IRS and have them asking for an audit.

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.

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 used to work for a non-profit and were getting unaffordable quotes for a simple audit, about $5,000 to conduct an annual one.

Others dislike it because you have to go through an audit, to be approved to take section 8.

This would probably only happen if something really bad happened... such as a discrimination lawsuit or excessive damage cause by something you did or did not you.Also, in Ohio a property management agreement must be in writing with a start date and end date.All rents must be deposited into a state audited trust account.Good luck.

I suggest an audit trail for your money, where it came from.

Picture having the explain that one if you get audited by the IRS.