Your record of this deposit (via teller slip or online transfer) will be your receipt of payment.This elimates complextity and the additional steps/rules that come with using a third party to collect rent.I get an email alert when a tenant makes a deposit, and each rent amount is unique so I know who has paid in case they don't have the teller add a memo to the payment.They can transfer funds online, or walk in to a local branch with cash, personal check, wampum, etc. 

As a PM myself, there are things in your email that we wouldn't do- no stipends to tenants for "improving" the property.

Are they going to send an email after it is approved?

I sent an email to customer service. 

Shoot me an email if you want to talk more.

Use email campaigns to remain in touch and share useful stuff.

CC my bookkeepers on every email or invoice they send me.

I received the following email below from them.  

I also go to the website (no info - just an e-mail capturing page).  

Let me explain that better, imagine your rehab is $100k, you would need to do part of the rehab, maybe $10k, and then you can get the funds for those first $10k reimbursed so you can keep progressing with the rehab.Given your experience, I would recommend you start with a moderate or light rehab, mostly cosmetic work so that you can do it yourself and won't get your profit decreased by hiring third parties.