Should I be handing the prospect an actual printed application to sign to is it better to do everything electronically and do through a third party? 

If the software is not simplifying your life or making you more accurate, you shouldn't use it.Software does have extremely helpful features like online payments, marketing syndication (click a button and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.

You must be ready to increase you gas pipe by one size,,,if your running 3/4" black pipe get ready to increase to 1".You must run a dedicated 120 volt circuit to the unit.You must ready ready for maintenance ie flushing out the unit with a mild acid solution every 4 to 6 months,,,,If you can handle that,,,,,,the good news is ,,you now have a water heater that will last and last a long time without replacement ,,,,,if youll do the maintenance,,,,no more leaky tanks,,,,,,if your unit fails its usaully an inexpensive electronic component problem ,,easy to change out ,,,,OK gang ,,Im off my soapbox,,,,Best of luck in 2014Dave DoyleLos Angeles

But consider too that appliances, cell phones, computers, consumer electronics, cars, furniture and (ahem) home prices are coming decidedly down.This fits my theory that things which we need will get more expensive, things financed on debt or not necessary will get cheaper.

I like that....For sending & receiving signed electronic rental agreements I use SignNow.

He has always been a timely payer but was looking for electronic solutions and this seemed to be worth a try.

If you google him, you will see that before he started TRW, he was head of the team at GE that created their electron microscope.  

The people that I talked to said the electronic system they used to check them out was very easy to use and they were happy with them.  

About 9 months ago I was wanting an electronic method to collect rents.  

I would also use electronic signature to have everyone sign on the same page and the paperwork would be clean and not so messy instead of having every tenant print out and sign.