Looking for any creative input on how something like this could be structured.Taking part of the purchase price of real estate as a charitable donation and using said deduction to lower your taxes is tantamount to sending a cover letter to the IRS with your return requesting an audit.  

But. that short of a hold period would be suspect by itself if ever audited.  

Anyone know of people that got audited for being a RE prof and what happened?

@Kenzer Hodgson For your STR, an umbrella policy can provide liability coverage, but an LLC offers additional asset protection by separating your personal and business assets, which can be valuable in case of lawsuits or audits.

Quote from @Jarret Jarvis: @James Wise well the PM should have been auditing the electric every month if they have it in their names and are paying for it.

I did all of mine several months ago as they are single member LLC;s and I already have to go through fingerprinting, background checks for my NMLS license as well as audited financials for our fund.

That is not a small thing.Banks are audited for “suspicious account activities” and a notice gets sent to the FBI.

I also agree that everyone needs to know how to manage risk, but you can't manage risk on your first deal if you only have cheerleaders and no impartial third party.I edited it as it posted too quick.

I am very excited To have finally closed on my first investment here in Liverpool NY as a 19-year-old investor as of last week and be auditioning for the Bigger Pockets rookie podcast this Monday!

Just leaving it sit without any investment use might not be enough to establish your intent in an audit.