I haven't done it ever and don't want to take the money out in a wrong way... wanna follow the right procedure legally et cetera... 

You should have a procedure tenants can follow if they want to lodge a complaint and address them in a timely manner if they do.

I recommend you use your standard long-term lease and follow your standard long-term policies and procedures.

The laws and procedures vary from town to town and state to state, but for what it's worth here is my take.

I have my private pilot's license, and I remember once talking to an ATC about this same procedure.

Make sure their area of expertise reflects the type of property you want them to manage.6) What is their rent collection procedures and policies.Your property manager is the connection to financial success or failure associated with this property.

@Rousner Ermonfils whatever you do make sure you stick to your policy and procedures.

It comes down to screening and proper policies and procedures when a problem does arise.

Unless state law requires foreclosure procedures under concepts of courts of equity, the procedures are NOT the same as a non-judicial foreclosure. 1-4 is a SFD, if a property, any property is to be used commercially or has a business aspect, it may be financed as a commercial loan.

That is all I will do, I will never talk about audit trails, examinations or audits in detail, it's classified to some extent, if you need to know more most examination procedures are in the Examination Procedures on the internet of each agency, what is not posted is internal aspects and techniques that I'm never going into in a public forum.