Hi Andy, savings accounts or interest-earning checking accounts with a decent APY (1.8 %- 2.2 %) don't usually offer same-day wire transfers or limit you to $25K or 2-3 days ACH and no cashier's check.

I use an ACH payment service to setup the schedules and collect payment. 

Jamie, what you described sounds like a whole bunch of heart ache.

I hope he gets a bit of his own medicine. 

We hire a 3rd party professional management company to run the day-to-day operations, which frees us up to find more deals, and we have a lot less head aches than we did with smaller properties.

Investor's heart ache when spouse criticizes them for wanting to be an investor?

(For perspective The Baylor School of Medicine in Houston is ranked #18 nationally and the in-state tuition is only $15,000/year!)

Also, I like Yardi, but switched to Appfolio for the free ACH and 1.00 per unit pricing if that helps. 

Buying and renovative a $800K home might not be achingly more difficult than an $80K home but downpayment, holding costs, etc. are astronomically higher.  

And how does this work for switching over automatic direct debit/ACH out of the tenants' bank accounts?