Put systems in place to double check and audit onsite managers (BP podcasts have been great for these ideas), systems to handle any evictions, systems to reconcile rent, etc...The one strategy that I have not done in my local market is to get information on the local parks.

I found this funny article just wanna to share with everyonehttp://www.forbes.com/sites/anthonynitti/2013/03/25/what-are-your-odds-of-being-audited-by-the-irs/ThanksHuy

I’m not saying he isn’t right with the loophole (I agree and interpret it that way as well), it’s just so new that possible audit flag and a lengthy court case?

Having a W2 income and claiming RE Professional Status is a great trigger for an IRS audit.

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

It's a budget friendly option to some of the other services, and they have engineers on staff + audit defense, but the more expensive cost seg companies ($1500-2500) will actually do walkthroughs of your property via Facetime to more granularly estimate components of your structure. 

Just learned of a dear friend who recently resigned from their prestigious position because an audit showed they used company funds for personal expenses.

That impacts me negatively now (compared to 6%), but supposedly was to prevent IRS questioning/audit in the future. 

I'm not saying the data is false, but I question the impartiality of the source. 

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.