Hey folks, has anyone used successfully a virtual property manager to do help manage properties...my portfolio is getting to the size where is becoming a bit large to manage, keep up with rent checks, dispatch maintenance folks and looking for some virtual assistance...

I have built up a little capital and now I want to add a VA but I want to get the best VA possible to stay with me for the long haul. Where should I go?

Communicating with guests and coordinating cleaning constantly need attention (if your place is doing well.)  

It could be a virtual group spread out across the country, which is great.

Virtually all banks originate secondary market loans for Fannie/Freddie as well, that they sell off, and they'll certainly make 30-year fixed rate NOO loans.

The short version as Jon Holdman said is that your expenses on the property are all really improvements and will all be added together so you can depreciate the property.I highly recommend sitting down with someone or communicating with someone very soon to talk about taxes.

Consider waiving the old fees and as others have said adopt a much higher fixed fee going forward to function as a strong deterrent, ensure the PM company enforces this and communicates it clearly to the tenant.Consider changing payment terms to weekly, bi-weekly etc to better match their cashflow, if you think it is beneficial to keep them and they are consistently late by the same intervalConsider your goals, landlords are in it to make money, but do not have to stomp out every puppy they see either, if someone is terminally ill or something, this is exactly how you ruin your brand/reputation.If the property still has positive cashflow and the cost of turnover is high, you should probably at least try to exercise the flexibility you have as an investor to keep tenants going through dire straits a chance to get steady again.

I need my tenants to know I will team up with them and provide them a superior product and in most cases much better than what is found in the area but I need them to be a part of my team as well and that means if it comes between rent and the cable bill you pay your team first.I think communication is key in this regard and find it is much more effective than in my B areas.

Now a days as I have divested myself from virtually all my depreciable assets and turned it into note income..

Most of what you need to do can be done using basic communications.