It's just not worth the head ache, too much liability.

For example, Rentec is going to let you do online ACH payments with your tenants and provide them a portal to check their accounts, etc.

Flexes those "think different" muscles for sure.

In the end, I believe he was mostly looking out for his clients' interests and flexing a little muscle at the same time. 

Then cashflow split would be transferred via ACH bank transfer as to have paper trail for tax purposes.

Everything is online, and I can accept ACH rent payments for only $.50 (yes, 50 cents). 

I would differentiate mine from the others in the neighborhood by doing something special like offer to pay for a Uhaul for a day for the move, or free TV with a one year lease contract (TV's are cheap now, but you could make it a tablet, or whatever),  or offer a one day certificate to the spa to rub out those sore muscles after the move, restaurant gift certificate, whatever appeals to you.  

Meaning if you get the wrong tenant, and eventually you always will get 1 bad tenant for every property in the course that you own it, you're going to have head aches.

Muscle smarts.  

Also: we only take electronic payment on anything rented this way, one-way ACH.