Not saying that you got a bad deal just I would do a lease audit and walk every unit.Good luck and many happy returns.Nicolas Paez

@Douglas Dowell A quid-pro-quo lending arrangement such as you suggest would also be a prohibited transaction if the IRS were to see that - which if they audited either individual they most likely would.It is best when working with IRA funds to avoid any situation where you are thinking "it sure would be nice if I could use IRA funds for this deal I'm involved in".  

That's not a real method and won't hold in audit.

The administration is also looking to double the size of the IRS and increase audit frequency.

The Department of Labor audited me to ensure I was didn't make that same mistake twice.  

Mingling charges can cause tax issues if audited and can pierce the protection of the LLC.

No financial record paydown since there was no escrow company to manage all payments appropriately, which will have to be audited.

@Samantha GoochBelow are some of the main differences between a CPA and EACPA1) Require completion of a college degree with certain classes in accounting, tax, audit, etc2) Require passing 4 exams on Audit, Tax, Law, Business3) Required continued education4) Can practice in Tax, Assurance or Advisory5) Eligible to represent you infront of the IRSEA1) passing 3 exams dedicated to tax2) Required continue education3) practice in Tax4) Eligible to represent you infront of the IRSThe CPA designation is more prestigious because it is much more difficult to obtain.The Tax portion of the CPA exam is more difficult than the 3 EA exams.The other item is that a college degree is not required(Just that you are atleast 18 years of age).With that said, you can have good CPA or bad CPA's.You can have good EA's and bad EA's.Also, please be careful on this webforum, there are many 'tax professionals' that are neither a CPA or an EA.Best of luck

Once you've been burned by one you will vet the rest as if their auditioning for an entry level position at the CIA.

If you get audited and you claim x% of your home, you have to prove it.