Tim Mospanyuk One requirement when completing a 1031 is that you can prove to the IRS, if audited, you had the intent to rent the relinquish property, hold it for appreciation, or use it in a trade or business.

Until you have an independent audit of someone's finances, they could be worth $1 or $1 billion.

I would not hide anything from court or audits or anything.

Both GSEs were under insolvent in 04, the public did not know, the market did not know BUT the accountants that were auditing their books did.

If we really want to end wasteful government spending we should shoot all the old people, audit the military rigorously for wasteful spending, and pay off the national debt before we do a single thing about assistance to poor people.

Each state has a Division of Real Estate who oversees broker operations & requires broker's to adhere to incredibly strict accounting procedures, audits and care of all of this money that flows in & out of their hands that is that of the client's (you) or the tenant's.

But seeing as how that would likely trigger a serious IRS audit, not to mention significant penalties and possible prosecution, they should probably just leave well enough alone and either live with their higher interest or sell and take their windfall and go elsewhere. 

He talks about doing an accusation audit or finding out what their concerns are and being prepared for them as well as using mirroring techniques.

I perform STR cash flow audits at no charge, any time my clients ask.

Agree, our youngest daughter has been home office bound for >3 years (yes b4 Covid) & she is now interviewing for 'home office' staff to assist in the accounting/audit for the 3 (inter-related) corporations she is the financial officer for.