File an eviction with the court and provide the proper notices (e.g., 10-day notice to pay or vacate for nonpayment of rent).

I'm assuming you're referring to investors that provide all of the funds for your flips? 

The statute says: “Habitual failure to pay rent, provided that the landlord has served . . . a notice to cease.”

Be sure to check out the free tools BP provides to help analyze deals you may have and also market insights.

Similarly to what Mark Cruse stated above, provide dignified housing, respect your tenants, and either have a good PM or make sure you are updated on the regulations and best practices for placing tenants.  

This led me to researching schools in my area that provided degrees in construction.

I have 0 experience ground up construction loan program nationwide that does NOT require GC to sign anything, only provide proof of 3 C/O's (certificate of occupancy) over the last year I.e. built received occupancy permission now unit is on market or habitable. 700+ FICO I can get you 80%LTC loan to cost on the project on ground up construction for 1-4 units.

Also, are they providing the LOI to sign or can you just write your own?

We self manage our properties, but we provide maintenance work for others rentals and pretty much all the property managers around here are mediocre. 

Verify and double verify with the applicant that the information they have provided is correct and that all income is verified and all adults will have a background check.