I have read and heard that they are sometimes used in real estate transactions and I'm in the process of compiling "buyer" and "seller" packets to keep with me in my car to be prepared to do a deal at any time.I was able to find one form online to look oer but ended up this law website and that has triggered some questions for me that I was hoping some of the fellow BiggerPockets members could help me out with. https://www.ilrg.com/forms/states/ny-powerofattorn...According to law 5-1501 of the New York General Obligations Law, section d, "To be valid, except as otherwise provided in section 5-1512 of this title, a statutory short form power of attorney, or a non-statutory power of attorney, executed in this state by a principal, must:" Contain the exact wording of the: (1) “Caution to the Principal” in paragraph (a) of subdivision one of section 5-1513 of this title;  and (2) “Important Information for the Agent” in paragraph (n) of subdivision one of section 5-1513 of this title"So, this takes me back to the PDF that I downloaded of a limited power of attorney form which DOES NOT included these paragraphs.

You can utilize paid services that compile and monitor property ownership info.  

As used in this chapter: (A) "Real estate broker" includes any person, partnership, association, limited liability company, limited liability partnership, or corporation, foreign or domestic, who for another, whether pursuant to a power of attorney or otherwise, and who for a fee, commission, or other valuable consideration, or with the intention, or in the expectation, or upon the promise of receiving or collecting a fee, commission, or other valuable consideration does any of the following: (1) Sells, exchanges, purchases, rents, or leases, or negotiates the sale, exchange, purchase, rental, or leasing of any real estate; (2) Offers, attempts, or agrees to negotiate the sale, exchange, purchase, rental, or leasing of any real estate; (3) Lists, or offers, attempts, or agrees to list, or auctions, or offers, attempts, or agrees to auction, any real estate; (4) Buys or offers to buy, sells or offers to sell, or otherwise deals in options on real estate; (5) Operates, manages, or rents, or offers or attempts to operate, manage, or rent, other than as custodian, caretaker, or janitor, any building or portions of buildings to the public as tenants; (6) Advertises or holds self out as engaged in the business of selling, exchanging, purchasing, renting, or leasing real estate; (7) Directs or assists in the procuring of prospects or the negotiation of any transaction, other than mortgage financing, which does or is calculated to result in the sale, exchange, leasing, or renting of any real estate; (8) Is engaged in the business of charging an advance fee or contracting for collection of a fee in connection with any contract whereby the broker undertakes primarily to promote the sale, exchange, purchase, rental, or leasing of real estate through its listing in a publication issued primarily for such purpose, or for referral of information concerning such real estate to brokers, or both, except that this division does not apply to a publisher of listings or compilations of sales of real estate by their owners;

I'm attempting to compile a list of reminders for any deal and your points at the end make great additions.

As opposed to specifically mentioning any data/figures/stats, for instance, you might just explain briefly that you have access to resources where that information is compiled (and that you'd love to share/discuss it with them over lunch).

I have found some decently valued foreclosures with good amounts of equity tied into them, but the main issue I am running into involves the amount of repairs these houses would need.If anyone can give me some help on how I should go about estimating repair costs for these homes it might help me in deciding if these homes are potential buys.I am considering going back to basics and continuing to compile my list of buyers.

• Preparing or compiling summaries or analyses for the individual’s own use.

There's also the CPM mail drop method where you rent a compiled list of prospects.But you will have to test and test to improve your ROI.

If you are going to do mailers, then build your own list that everyone and their mother isn't already mailing to ... the harder it is to compile the list and locate the motivated sellers, the better for you because the fewer people will be mailing to them.

What is the best source & fair wage for Virtual Assistants to help with property reasearch, sm landing pages, and compiling databases.