I haven't gone with the goodie-bag idea just yet, just an idea that I was bouncing around, but you definitely bring up some good points.

I'm almost an AVL native (in '91 grew up here 7th grade - high school and parents stayed) and after bouncing around a bit via college and my marketing career, I landed back home in 2014.

A buddy of mine does several hundred a year if you ever want a resource to bounce ideas off of, email me and I will make an introduction.

If you have a well thought out strategy and criteria that you have bounced off an experienced investor, the worst thing you can do so early is to change course out of frustration.

Question, how much does your property management company charge your tenants for NSF (bounced checks). 

An, otherwise, "good" tenant in a spot of trouble or a bad tenant will simply bounce a cheque or NSF a scheduled payment ... so you still need to reconcile your bank account.In our experience, screening is the best defence against "bad tenants" and emphasizing the need for communication for "good" tenants who find themselves in a bad situation.    

They were quick to bounce back.People invest in Bay Area and Manhattan for prestige, those oil sheiks dont care if the property cash flows or not.

They are 'bad' because they often pay late I have to chase it down each month, checks bounce, etc.

Feel free to contact me if you you'd like to bounce ideas around.Best wishes,Mike

@Eric Black Thanks for allowing me to bounce some ideas off of you!