QUICK UPDATE:Had my initial conversation with tenant...Told them that I am signing them up to the online portal (Cozy) and expect them to pay on the 1st and electronically.

He's up in Loveland, but does it all electronically. 

Some of the features they advertise are:Automation for messaging (important to me since for every booking I have about 4 emails plus a couple of reminders that I want to send automatically)Electronic rental agreements (which allowed me to discontinue my Docusign membership which costs around $240/year)Invoicing through the website which allows guests to pay directlyA website to advertise the propertiesChannel management that integrates with all of the major channels such as Airbnb, Booking.com, Homeaway, TripAdvisor, etc. 

I worked at an electronic retailer when I was younger and they would pay us 15% commission for selling warranties because they are "pure profit" in their words. 

We are tracking all of the expenses basically on an excel spreadsheet to track who is buying what, when and we have electronic receipts for everything.We all work full time and are doing this on the side.

I think if you are buying one Door and you intend on scaling it to multi-family eventually, you need to be thinking multi-family and scaling.So if you put in the business processes like Electronic Rent Collection and Rental Application and Leases along with Automated Bill Payments, you are setting yourself up for scalability.Treat your first ONE Door Investment as a spring board for future multi-family investments.If you do that, you will say to yourself, "Wow...

I am looking into electronic payment but for now it’s check or Money Order sent USPS.

@Christopher B Leab If you mean electronic forms, look at Google Forms.  

They are great for high end electronics where prices drop quickly.

@Dana R. just because some people had problems with one electronic rent payment company hardly means that all electronic payment is bad.