I can't count the times in the past 10 years that I've gotten a late payment excuse from someone wearing obviously brand new designer clothes, sporting a brand new smart phone or otherwise displaying some kind of behavior that was incongruous to their situation (new car, new tv, new bbq pit, daughter runs in and says she can't wait until they leave this weekend to go to six flags, "lost my job" but they're leaving the house freshly showered wearing their uniform....)At the end of the day, you have to do what you can live with, but if you're asking for advice, my guess is you're looking for support for what you already know you have to do.

I have put up bandit signs and TV ads.

I've had tenants buy a big screen TV; buy a minivan; buy a pit bull; buy crack; and a million other things instead of paying the rent.

I've got (I think) pretty high ethical standards, and would want/need to stay away from any aspects of the business that are a bit 'shady' (using illegals for labor, cutting corners on building codes, questionable methods of evicting tenants, etc...)At a higher level, I'm concerned that the glamorization of real estate investing in general in the last few years, and rehabbing/flipping in particular the last year or two (via TV shows, magazine articles, etc...), combined with an overall sagging real estate market (albeit less so in my area), may mean that now is a poor time to get into this biz.

We had/have a local TV station web site that has "experts" answer questions, much of it is legal and RE or consumer matters.

Sorting 2014 receipts and printing various related docs in front of the tv.  

Then approach that person and ask them if they would be willing to mentor you for a specific length of time, for a set fee, with measurable results ( the best result is doing a profitable deal in the new manner you wanted to learn).I would shy away from individuals who are affiliated with TV Realty stars or self-styled Real Estate "gurus." 

Or the TV remote if it's to far away.

If you watch Shark Tank on TV you can get an idea of how the big business guys and gals look at "the numbers."

They have a TV show I put listings on, pay for some local/national news paper ads.