I always suggest starting with a budget audit and seeing where your money is going.  

Kristine Marie PoeI'd say you're right, except that closed transactions show up in audits after closing, it's not the closing agent responsible for such matters but the selling broker.......in their absence, the seller.

True Joel, but like pulling teeth to get Syndicators to show you their track record, ie actual total returns with breakdowns of distributions + capital appreciation + principal paydown etc, and SEC so loosely governs Real Estate that it's the only investment category that doesn't require standardized return metrics like the 30=day SEC yield on any fixed income product is mandatory, or audited GAAP accounting standards on finacials from public stocks/Reits etc Real estate seems to be still a bit more un-regulated "Wild Wild West" than other parts of the investment economy, but i guess hence the much better returns i've had in real estate, risk = rewards This is why the good sponsors get have audited financials and have a third party verify their track record.

If you do use Turbo Tax consider purchasing their audit defense product.

If you have underwriting experience, are familiar with prudent lending practices, have ensured that your compliance requirements are adequately met, can actually process the origination with verifications under prudent audit standards and you have determined the servicing requirements, you may good to go.