Typically, selling in your parent's name and buying in your LLC, under audit, may result in a disqualified exchange.

Two problems with this outcome:major audit flag on zero-income Sch Cinstallment income improperly escapes SE taxMy solution is to manually calculate installment income and enter it on Sch C, forgoing 6252. 

The company account also separates your personal assets if you were sued or audited.

@Max Tanenbaum  Don't you need receipts on file in case of an audit or will the bank statements work for the IRS?

@Sajan JivaCPA license is a state designation.From a tax perspective - a CPA who lives in NY is not breaking any laws or codes for filing a tax return or providing tax strategies to those who live outside of New York.from an audit perspective - A CPA may be limited in signing assurance/audit related documents to the state that he practices in.You should be eligible to write off the items you mentioned.

@Jonathan Taylor generally this can resolve by giving lender audited profit & loss worksheet for current year.

We include audit defense at no extra charge with every study even though an audit is extremely unlikely.

Can I give them something else Incase they “get audited”?

Our multistate substantial operations and investments in property and ongoing build operations have all of our real estate investments easily auditable by the authorities because they are recorded with the government in every State and County we do business in listed above- along with the title insurance companies and attorneys doing the official registered closings.

If I recall correctly, when I wasn't my own brokerage, I could do 3 personal deals per year with the brokerage and all I had to pay was a $250 file review fee to the brokerage to make sure the file was done correctly in case we got audited.