I recommend you search the 70% rule and read those explanations.

Or maybe even get another accountant's input.Sorry for not doing this for you right here, but I would need to type up couple pages of explanations to respond to your most recent post.

Go to bcpa.net for an explanation.

Your explanation makes sense. 

@Jason Howell I completely agree with an excellent and detailed explanation you received from @Lee Ripma.

I'd just add that you should  include in your operating agreement a very detailed explanation of how issues are resolved, voting power for all members and who is at the helm of the organization (i'd also spell out roles and responsibilities for each member in a very explicit manner)

No explanation or documentation of expenses by categories was given.

Normally it would follow with an explanation of why they can't confirm any information.

Hi, I just started using the real estate site Hubzu and need advice and hopefully some explanation to how they operate.

I appreciate your explanation on the management - Didn't know that PM companies can supply on-site managers - I guess that means I provide some kind of work space where they come to work each day, yes?