I could easily accept money orders but that relies on tenants getting rent payment to me prior to the first each month.

You seem priced a bit high compared to your competitors whom, from what I can tell, have slightly nicer and more updated accommodations. 

I am happy to see that you are thinking about the exit strategy prior to purchasing the home.

Rent is considered to be late if not received in full prior to midnight on the 1st of each month.

Regarding the tenants---   Just go in there and be polite and cordial,  get a feel of their opinion of the prior owner-- did they request a faucet get fixed for years, and now there's a lot of water damage.. 

I would suggest you do a bit of additional homework prior to taking on New Development projects.

The tenants prior paid all the utilities (except water/sewer).

The selling agent was quick and forthcoming with a previously completed home inspection from just 13 days prior.

I have been able to form more QUALITY relationships in ten minutes in an event as compared to ten hours cold calling people on the phone. 

My purchase prior to this one was a distressed property from an older widow who was relieved to sell as she could not afford to fix and sell or rent.