While the IRS does not mandate a physical site visit, the IRS cost segregation audit technique guide (ATG) does suggest conducting “field inspections.”It’s important to note that the ATG is not an official IRS document.It serves as a guide and cannot be used, cited, or relied upon as an authoritative source.However, the recommendations in the ATG are worth considering.According to the guide: “A field inspection is recommended to document the physical details of the building, type of construction, materials used for construction, the assets contained in the building, the size and types of building systems, and any land improvements that were included in the purchase of the property and the condition of that property at the time of purchase.”So while the IRS does not require a site visit for cost segregation studies, following the guidance from the cost segregation audit technique guide can be beneficial.

Some do 200k a year or more.No way will I believe that unless someone shows me their audited books.

I think using a value outside of that is going to be tough to defend if you are doing a cost seg, which already attracts quite a few audits.  

We audit several different areas a couple of times a year but we have a pretty tight system in place.

I have 17 years of corporate RE and compliance experience, so the LIHTC reporting and annual financial audit does not scare me.  

The number of loans that are audited post closing is ridiculously higher than it was during 2020/2021.

Also, I know this status can sometimes trigger an audit.

Are they teaching auditing of originations ?  

If you are audited the IRS will want to see supporting docs (e.g. calendar, CC statements, etc).If you've reached the end of this thread and your NGMI on RE pro there are a few more options:1.

I've been working with job titles like construction project manager, who doesn't know a lot about construction but coordinates architects, engineers, GCs etc, the VP of RE management, who also does not know a lot about construction but oversees site selection, lease negotiations, property management, RE accounting who writes my checks and does annual CAM audits, and other jobs like that.