Beucause I'm just an actor I only auditioned for the parts that don't require singing.We're performing "South Pacific" probably one of the most popular musicals of the last 75 years.

Not to mention if you do a lot of REO wholesale...think of the IRS audits you will have by opening up so many companies in your name and closing them so fast..probably won't look good...might be easier to just add your buyers name to the contract and you use your wholesale contract to protect you and assure you get paid outside of closing

Even with his help, it would take at least a year (probably two) to get something set up that would allow me to pool non-acredited investors.If you stick with acredited investors or, better yet, sophisticated investors, you can get going faster since the SEC assumes that those investors know enough to protect themselves.As John pointed out, if I go that route, don't expect to hear much from me about it.Aside from all the set up, there is a lot of paper that needs to be generated, stored. reported and audited just to prove that you aren't cheating a 90 year old alzheimers patient out of her life's savings.

If they do, they are guaranteed a "Quality Control" audit.

Seems all that is required is to attach a statement to your return indicating that you elect to aggregrate pursuant to reg xyz.It looks like all RE Professionals should be prepared for an audit.

If the transaction gets flagged or audited, it would be fairly easy for them to unwind what happened and liquidate both IRAs.

This is also separate and apart from the annual audits that will be needed.

Shareholder loans are a commonly audited situation; this can also cause the taxpayer a lot of unnecessary paperwork and can be more trouble than it is worth.

You need an audit trail for the payment, you don't need to clear funds through any title escrow company or an attorney!

I can say though great care needs to be taken when you prepare your return to document these facts and circumstances so that you have answers if you are ever audited.