I am coming from another profession and while I have some experience in commercial real estate I am new to residential.I used a screening service (www.leasedefend.com) along with a standard background check and have filled my first unit.  

a little background info here..

Their website is www.tenantscreeningbackgroundcheck.comI bought through paypal and it seems there is nowhere to enter information.  Hoping it is not a fraud.Has anyone used this service?Thanks.Sherry Mulcahy

That is an ideal background for the property side, and if you handle customers all day, you may have many of the people skills down, too.

I have a strong money management background as I spent one year working as a Financial Representative intern with Northwestern Mutual.

The rates will likely be more favorable.If you're going through with this, I would encourage you to visit your local REAI group and see if there's a person willing to partner with you; a person who has a construction background.  

Background: I own one rental property and am looking to buy a second.

One of the most important skills for both an agent and a wholesaler is marketing (Which is the thing I hate most about being an agent), so if you are going to have to spend time and money marketing, why not also apply it to the sales arena of which you have some background already.

In case 1 is not an option, Should I do background check/credit check of the replacement tenant ?

(though you could get them when you get home, just can't recreate them later, see sources below)...I would actually look at the recent opinions rules more in great depth based on your back ground...