Pros: Fast closing, minimal documentation and analysis, and can be used on unbankable properties (deferred maintenence, tax liens, cloud on title, etc).

Check out PayNearMe - perfect for unbanked tenants and costs you nothing. 

Consider what works for unbanked tenants who can send money orders or for older or non-technology types.  

I do think that all of my unbanked tenants have smartphones that would be capable of having paypal on them. 

But they also can include tenants who are 'unbanked' or 'minimally banked' or just prefer to pay via this method.

The unbanked problem is real.

@Stephen E.As you see from the back-and-forth with Thomas S. unbanked individuals are far more rare in Canada than in the U.S.A. as banks are required under law to provide an account to any citizen who wishes to open one.  

sorry- when you become unbankable! 

You need to fix whatever it is that is making you un-bankable.

Distressed house unbankable with significant discount if purchased quickly with cash?