I did it once per quarter for about 18 months.  

Recent article in Dallas business journal states Dallas is among the worst markets for flipping at a paltry 29% gross return on investment for the past quarter.

For buy and hold deals, the distributions are sent either monthly or quarterly.

Do you make this residual quarterly, monthly, yearly? 

Imagine if 90% of Burger King's sales were Quarter Pounders, and demand for Quarter Pounders dried up overnight.

Here's the 4th quarter economic report for Huntsville.

Put this in your lease, stress the policy and if during your quarterly inspections you fine pot plants you know you have smoking in your property.

Then after, the contract is signed and the first quarter of the draw is paid and cleared, you receive a peace order 5 days later in the mail. 

I am not saying don't pursue these types of properties, just be prepared and realize you will need to be a much more hands on manager and should probably do some monthly or quarterly inspections to see whats going on inside.

@Philip Amundson I'm looking to get started around the 3rd quarter next year also, so your question is right on time!