According to the county auditors site the surrounding properties have appraised for anywhere between 80k to 100k.

Bank reconciliations, LOL, putting the steps of a reconciliation is a trick question stating it in English for accountants, was an entry test question to write out in essay form for government auditors and examiners.

Of course i would like to expense it but I don't want to draw unnecessary attention from auditors.

The audited financial statements don't need to come from a PCAOB auditor.  

The thresholds are estimated a number of ways (Example 10% of annual revenue or whatever the partner considers "material") and any variances beneath the threshold would not be considered material and thus not represented in the financial statement In addition, HOA's are usually smaller clients for accounting firms, I don't think they have enough sway to make the auditors misrepresent the financial statement

If someone can sneak some fake paperwork past the auditor FSBO's can become quick scams.3. 

LOLMortgages are reviewed, audited after they are made, immediately after, a few months later and then pulled randomly for audits.All the things mentioned are easily checked by an auditor.

I am going to lose it if I hear another seller tell me they want $65,000 for their $15,000 property because that what the auditor said it was worse.Nothing in the neighborhood has sold for more than $30k in the last 3 years, yet the auditor values every house in the neighborhood at $55k and above.Although it is pretty funny when they say "Well that's what Clarence Mingo said it was worth"...  

So I tried QuickBooks and Buildium, both great and snazzy but ultimately using Excel is just faster and with Office 365 I literally create a clear audit trail (my job has me working with auditors everyday...) by inputting all transactions and including a hyperlink to where the bill/receipt/pdf, etc. is located on OneDrive. etc. etc.

If you pay yourself $1 a year in salary and the rest is dividends, you can count on an unpleasant meeting with an IRS auditor.