Why would an amended return from SCH E to SCH C be "a pretty good bet" for an audit in your opinion? I would assume amending a SCH E to a SCH C would cause an increase in taxes that you'd pay.
Sch C Real estate assets are depreciated over 39 years. SCH E real estate assets are depreciated over 27.5 years. I have high expectation that if you do that, you'll be hanging out a sign that screams for an audit. But that's just me. Bottom line is, you're gonna do what you're gonna do. Makes no difference to me.
