@Raza RizviI’m an OZ attorney with a practice focused on fund creation and compliance.

I thought I'd entered the sales correctly, using this guidance: https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/how-do-i-report-the-sale-of-rental-property/00/510920And yet I see that there wasn't a place to explicitly put "here is my 1099S and here's the amount listed" so it triggered this audit. 

Trust your market and property research and pull the trigger when the right opportunity presents itself.

But I’m not in a place to pull the trigger on that kind of deal quite yet.

@Nick Seginowich I don’t know what the energy code is like where you are looking at the house, but pulling a permit for a full re-hab may trigger updating the insulation, air sealing, windows, etc to a higher efficiency (which can be costly).I would make sure to do your due diligence before pulling the trigger

Hey BP, I'm curious what issues you're most concerned about when it comes to passing an IRS audit and staying compliant with all regulations we have to follow? What penalties have you or your colleagues faced/almost f...

If he has 50k in equity, how do I legally get 25k to him to cover half the equity and not trigger a gift tax situation?

It is critical to understand the numbers on a deal before you pull the trigger. 

hey @Adam Craig, cool to hear that you are pulling the trigger!

Moving the mortgage into your LLC will trigger that clause.