Go to their office with a note pad and a phone to take pictures.Do your lease audit and financial statement audit while on site.

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

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

Imagine she gets audited and it's determine basis was incorrectly calculated and she owes money.

Does anyone think it would be worth telling the county about the error, and run the risk of the county auditing the house and raising the house value, thus raising the property tax?

Do you have audited financial statements?  

However, through the audit process, I discovered that fixing water / sewer leaks and rebilling at 80% rate would improve NOI more than the lease up projections would.2.

They conduct an energy audit of the building, and then they offer what they can do.

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

I'm also hoping to get another property before the end of the year that won't have much time to bring in any income but will need the same outfitting.Going through this with the tax advisor last week, he strongly urged me to consider just carrying the losses forward, if I even had any, since they would be small compared to the cost of an audit and a one-time artifact of the startup processes.