I studied Electronics and I work as a Software Engineer. 

Always ask if your title company has electronic deposit (EFT or ACH).  

Continued:The Self-Directed IRA and Solo 401k DifferencesThe solo 401k allows for checkbook control from the onset;The solo 401k allows for personal loan known as a solo 401k loan;It is prohibited to borrow from your IRA;The Solo 401k may be invested in life insurance;The self-directed IRA may not be invested in life insurance;The solo 401k allow for high contribution amounts (for 2017, the solo 401k contribution limit is $54,000, whereas the self-directed IRA contribution limit is $5,500);The solo 401k business owner can serve as trustee of the solo 401k;The self-directed IRA participant/owner may not serve as trustee or custodian of her IRA; instead, a trust company or bank institution is required;When distributions commence from the solo 401k a mandatory 20% of federal taxes must be withheld from each distribution and submitted electronically to the IRS by the 15th of the month following the date of each distribution;Rollovers and/or transfers from IRAs or qualified plans (e.g., former employer 401k) to a solo 401k are not reported on Form 5498, but rather on Form 5500-EZ, but only if the air market value of the solo 401k exceeds $250K as of the end of the plan year (generally 12/31);When funds are rolled over or transferred from an IRA or 401k to a self-directed IRA, the amount deposited into the self-directed IRA is reported on Form 5498 by the receiving self-directed IRA custodian by May of the year following the rollover/transfer.Rollovers (provided the 60 day rollover window is satisfied) from an IRA to a Solo 401k or self-directed IRA are reported on lines 15a and 15b of Form 1040;Pre-tax IRA contributions on reported on line 32 of Form 1040;Pre-tax solo 401k contributions are reported on line 28 of Form 1040;Roth solo 401k funds are subject to RMDs;A Roth 401k may be transferred to a Roth IRA (Note that from a planning perspective, it may be advantageous to transfer Roth Solo 401k funds to a Roth IRA before turning age 70 ½ in order to escape the Roth RMD requirement applicable to Roth 401k contributions including Roth Solo 401k contributions and earnings.)

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.