Been audited by FINRA a couple times and have several hours of my life spent in front of attorneys.There is a difference between a real estate attorney and a corporate attorney.

I suspect if you found a good independent agent with market access (all the top carriers competing) that writes a lot of property insurance you would see a simlar spread between RC and ACV for your properties.

The profits, costs and expenses for a buyer must be disclosed and are used as the source documents for tax preperation and any audit by the IRS!

Perfect pool of people to ply your 'financial independence' marketing tactic.Marketing is the biggest money maker.

That's what it is ...My brother-in-law has been through several audits with no issues, so I'm fairly certain he is accurately reporting, but I'm not a part of his business, so can't say for certain.

What would be the least I can pay as salary and still be ok with the IRS if ever audited?

I can get an independent adjuster but frankly what would make Foremost change their opinion.

If you have a management need that fluctuates, I would hire an independent contractor on a job by job basis.

The bank does have a legal department and after a file is closed they sometimes do send their files to that department to do an audit to make sure the property hasn't been transferred to a new owner.

A compliance management system requires written Policy and Procedure Manuals, an Underwriting Manual, a formal employee training program (even if you are the only employee) and a set up to audit the success or failure of the program.There are other solutions that consultants like ours (we are a consultancy on manufactured housing chattel finance) have developed for smaller operators that do not necessarily involve all of this.You don't have to like it (I certainly don't) but the government has seriously gotten into our face and they cannot be hidden from or ignored.