What types of services that a virtual assistant could provide would benefit real estate investors?

If he is not on the title, then he does not receive any tax benefits with the losses generated by the rental real estate operation.

BY dealing with the homeowner prior to the auction, you have the opportunity to short sale the property from the bank and offer the current owner, walking $ as well as the benefit of not having a "foreclosure" on their record.

The best way to analyze real estate cash flow is to complete an APOD (Annual Property Operating Data) worksheet, including all cash flows and tax implecations (taxing & depreciation/cost recovery) to determine the before and after tax ownership benefit (or loss).This is only the first step in analyzing a property's performance.

I want the benefits of real estate.

The party giving away ownership is the grantor (they are granting title) The party receiving ownership is the beneficiary (they are benefiting)I know others have different views on the protection (or lack there of) a land trust may or may not provide.

Yes, when I am dealing with a homeowner, I make sure to explain the benefit they would have by selling to me and to not receive a 1099.

I want to make sure I am getting the correct loan so that I can hold the property in the LLC so I can get the tax benefits and liability protection that comes with it.

Weathie: Thanx for the response, you are totally right, this property will never be a winner in terms of cash flow and its keeping all my money tied up, I guess it's just hard to sell it since it's been in the family for over 20 years (you know how it is, emotional ettachment lol) As for the triplex thing everything was done by the book, 3 appartment approved by the city and ive got the right zonage so no problems there.Here's my financial situation : I have a full time job earning me 43 000$/year plus benefits, I've got no debt whatsoever, and I don't have any savings except for the money in this property, a small 3000$ in the bank and my retirement account wich I can't touch.

EricI agree a major benefit for one to work with you is you are an advocate for them in an effort to TRY TO PERSUADE the bank not to come after them but their are no guarantees and if we told the customer anything to the contrary we (or you) could be sued or even worse.