If you have to ask that question, you have no clue to the pitfalls that lie ahead. 

You're on the right path though, thinking ahead and getting your systems set up right from the start is really smart, it will save you a ton of headache in the long run!

@Susan KnightMy best advice is go ahead and buy a cash flowing rental house!  

I think real estate investing is awesome but don't rush it.

I would make sure you find a mentor who is at least a decade ahead of you in experience with the financial success to show for it AND is also adapting to the shifting marketing strategies with mobile devices dominating everyone's attention more than TV, radio, or mail. 

If you are new, go ahead and do this.  

as one of the questions on the rental application so that they know ahead of time.

So I was hesitant but went ahead and bid full asking.

Your local RE Broker, RE Attorney and/or Title company will most likely be the most valuable to make sure you get it right though.Please keep in mind, this isn't something to just "try out" when dealing with real estate and people's homes and finances, so make sure you've got everything lined up correctly ahead of time. 

In the end though I forced myself to learn first hand and I did come out ahead on my first deal, which was a flip.