Once all docs (templates) are complete I desire them to be stored on our cloud and emailed to the tenants.  

Hi Everyone,I just bought my first rental which I am very excited about.Currently all the tenants pay cash. However, they have all agreed to pay me directly from their Citibank accounts. They all have Citibank because...

But I can tell you that we manage about 95% of our business from our cell phone and use a cloud based rental system (RentecDirect.com) to collect rent directly to our bank account, screen tenants, receive maintenance issues, track expenses, advertise our properties, etc.  

You will also want to decide if you want cloud or desktop versions.As others have mentioned, use a separate bank account(s).

Tenant Cloud is a free website that has a lot of things that help with property management like online bill pay and applications for tenants, alerts for when tenant's rent is late etc etc.

Also, do I need an additional notarized memorandum to cloud the deal to ensure they can't cut me out of the deal??  

As long as the title isn't clouded and your seller is cooperative/honest and you've done your due dilligence, there isn't a whole lot to worry about.

Are you referring to clouding title? 

If there are clouds or lines on the title, they should alert you to the defects. 

I understand that I could sit and wait for the cloud to move off, but to me that is not an option.