First thing is obvious legal advice needed on your entity structuring I.E managing LLC to manage your operation.I agree with your statement on assigning the % of beneficial interest to your LLC which does provide a good degree of asset protection ( no legal advice intended just my suggestion) since I work with land trusts and that is the preferred way to do this and you are effectively "layering" out any potential liabilities that is why land trusts and LLC or C corporations compliment each other so well.It is better to do this when the trust is created then to have to go back and do it just cleaner that way.In how we work with land trusts we use a corporate 503 (c) trustee corporation, who does all the trust administration so a management company really can not be used since it could invalidate your trust since the trustee performs a free collection service as well in their duties to the trusts beneficiaries.I would IMHO, separate an LLC to do the collections or use another licensed bonded company.The replies seem to be great advice since you would not wish to be commingling assets and you would want accurate management of your properties.Typically in a trust the tax burden falls to the trust beneficiaries and if you have a professional trustee you should have all tax statement from him on the payments received for tax purposes..Your estate planning or RE attorney should be able to structure for you a viable solution based on your tax structure since that is involved.Good luck to you..

Are there usually large debts attached to the deed that they don't show on the list, or is the judgement on the website usually accurate when you go to the actual sale?

You might want to read this other thread:http://www.biggerpockets.com/forums/86/topics/55917-are-the-sheriff-sale-listings-really-accurate-

How accurate are the FICO scores that Discovercard provides?

Someone sent me this email so I wanted to post it less as much of the political spin as I could subtract as possible to get a sense for how much of it is accurate.

Get your inspection done, call on the for rent signs and go visit a couple places to see how yours compares, then you can make a more accurate estimate of the rents you can expect to receive.

the cheapest baditsigns is www.supercheapsigns.comMelissadata their list is only 60-75% accurate.

Charles -Is it accurate to say that if you're not planning to take a deduction for something you purchased, that you're won't have to issue a 1099.For example, I deduct vehicle expenses based on mileage, not actual costs, so I imagine I wouldn't have to issue 1099s to my mechanic or the gas stations where I buy gas.Is this correct?

US Marshall auction should not be too different from sheriff sales, in terms of the homework that is needed beforehand; here is a link that will point out some other places to learn about homework to do before the sale.http://www.biggerpockets.com/forums/86/topics/55917-are-the-sheriff-sale-listings-really-accurate-What to do now?

So "the something else in mind" is probably an accurate assessment.