I have heard that they can be a big head ache in some respects, but I also know that they can generate big bucks as well. 

I don't know what he's using for the ACH transfers but is there something people are familiar with which is less expensive which I could propose to him to reduce these costs of having him send the money directly to me? 

Their marketing is better than anything I could arrange, the email and text reminders are invaluable and direct ACH deposit makes it almost painless if not for the cleaning services required.  

Rent payment method I use is always ACH transfer.

One quick advice; you will need to be sure of the rehab cost to avoid cost overruns and surprises and aches that come with it.

Your personal guarantee only means something to a lender if you have the financial muscle to back it up. 

For example, Rentec is going to let you do online ACH payments with your tenants and provide them a portal to check their accounts, etc. 

You might want to think about setting up ACH rent payments (ACH is automatic clearing house, or echecks).

One of my custodians prefer to receive paper checks instead of ACH :))) I am looking for a software which is able to do this.

Asking price is $275K.My concern is: Would I be buying a huge head ache?