We help them with bookkeeping, setup, review, owners statement, audit trail and financials.

Let me just add that while some have said they ahve been filing a certain way:  Do you know if the IRS has actually audited your returns? 

Are you auditing financial statements or something else?

We hired a Six Sigma Blackbelt systems guy to perform regular audits of turnkey providers to make sure they continue to meet our very high standards.Be sure to speak with one of our investment counselors as well to get the inside scoop!

I think it is a pretty insignificant point, would go under the radar, and no one would ever know the difference anyway, unless maybe a detailed audit was done.Any feedback?

on both MF and SF business models  and have participated in MF road trips (both educational and acquisition trips) and participated in due diligence for other members (lease audits, unit walk-throughs) and have met with various lead investors to pick their brains. 

And if the buyer did the same, with a separate valuation for the same property, doesn't that increase audit risk, since a seller is stating carpet was worth nothing, or minimal, and the buyer wants the carpet worth as much as possible, to write it off?

., in 2014, with a dual degree in Accounting and Management Information Systems, with a concentration in Economics.I'm a Chicago local, working for a Telecommunications company as an internal auditor, specializing in financial, operational, and information system audits.

Or some other value that you could justify to the IRS if audited.2. 

Also, the California insurance commissioner is auditing the crap out of title and escrow companies that allow a double close.