Initially, I thought this was going to be as easy just depositing the money in a bank and start investing. However, upon doing research on this subject matter, I realized how much of pickle you guys have put yourself into.
Like you said, any deposit you put in a bank that is above 10K automatically gets reported to IRS and may trigger an audit. What I have come to find out as well is that if you go the other side of the spectrum and place smaller amounts of cash in the bank over a period of time, can also result in you being reported.
Hopefully we have some banking wizards here who can help you. If not, just invest out of state and hopefully find a house you can buy for 35K, and start doing a BRRR strategy with that.
As a general question, in 2018, why would anyone (who expects to interact normally with society) keep accumulating their spare $30k+ under their mattress? For safety reasons? Really?...
@Brian Adzadi thank you very much for your reply and insight. We will figure something out.
@Alicia Collins is your 35k unreported income?