Power of Attorney(s) for a frequent traveller

[Kelvin J.]

BLUF: Looking for advice or experiences setting up or using Power of Attorney to conduct deals remotely.

Background: I am a REI newb and reaching that grey area between self education and pulling the trigger on my first rental properties. One thing holding me back is that my current career has me out of country ~6 mo/yr and usually for 3 months at a time. When I leave and where I go is highly unpredictable. I am single and when I am stateside I live (DFW Texas market) across the country from any family members so they're not an option either.

Questions on my mind:

-Any "gotchas" in setting up LPOA and making deals with an agent remotely?

-Are there greater legal risks or common pitfalls associated?

-For those of you who have done this, is your power of attorney through your name personally or as a member of your LLC?

-Other than my agent, should there be any other team members with LPOA such as lawyers or property management?

I sincerely appreciate any knowledge or personal experiences you can share with me. Even if you just have a book or article to turn me on to, I’m happy to take a lead.

-Kelvin