@Charlie Palmer , Companies with systems in place to routinely collect judgments are rare.  

At first it may seem overwhelming but you'll quickly develop a routine to handle inquires, refunds, schedules, etc...If you start your own website and marketing campaign (highly recommended), the process becomes much more time consuming.

I routinely track my offers so I can follow up on my analysis and numbers when my bid is not accepted, just to see if I was off or not.  

Geraldine has a great outlook and I look forward to implementing some of her tips into my daily routine.

I doubt I spend even 2k a year on repairs for all my houses combined.Of course, when a tenant moves out there are possible carpet and painting expenses which I don't consider repair expenses rather a routine maintenance expense.

Instead of:Potential tenants must be okay with a small, routine application which features a background check, employment/income verification and credit check.

I'm mainly talking about routine maintenance and minor tasks like painting, replacing boards, caulking, replacing fixtures etc...Also, I would like to get your opinion if you think that a licensed contractor is required for these smaller tasks, or should I  go with a cheaper contractor that is not necessarily licensed?

Owners are going to need to ensure that their cleaning routines are more thorough than ever.

@Josane Cumandala - I actually don't use a property management company, while not ideal, I manage the properties from here (with typically monthly long weekends there) - I have boots on the ground that I can call should an emergency arise (family & a list of contractors that I can trust).I personally don't see my brand as "slum-lord" either, to help avoid that I'm pretty selective with the properties that I purchase & invest a lot of time on my monthly trips taking care of the routine maintinence.  

My daily routine as part of learning/education is going through the forums and my keyword alerts and it’s been super valuable so far to learn more and also to network and make connections with other investors/agents/PMs in the local market.