With that said, you could certainly encourage them to setup recurring automatic payments - that way they never have to remember to pay rent, and you'll always see their upcoming payment in the queue.

Sign the contract ...Make sure to schedule recurring bi-weekly meetings with the newly selected PM to level-set and discuss open issues.For a duplex, this might be overkill, but the process at this time is really the most important. 

Take the anxiety and risk to a minimum and the returns to a maximum.

I usually ask for 3% as option consideration.I share others' anxiety about the weirdness of the $70k on the side as far as tax reporting and just the fact that they can't qualify for a reason.   

One of the aspects of purchasing that is most anxiety-inducing for investors is in doing a CMA and figuring out the After Repair Value of the property.

I suffer from anxiety and one day before closing they found that my brother owed 20,000 in child support and a lein was on the house.

@Bon Osonwanne The LLC vs personal name is one of the most recurring topics on these forums. 

Also, make sure your tenant pays online using a recurring payment method [Paypal, bank direct debit, Zenmo, Zelle]. 

When calculating my cash on cash, I like to include the NRRC - non recurring costs, such as the lender, title, and appraisal fees, since those are sunk costs.

To top it off, I don't even know if there's any cumulative or recurring fees on this.