I also use PayPal and Venmo.Some just deposit directly into my business account.I make it as easy as possible for my tenants to pay me.

Now if you paying all cash or using a hard money loan that different.

The 5 percent you pay an agent to properly market a nice property will far outgain what you will lose involving someone who will come in and pretend they have the money to buy just to daisy chain it to every Facebook group in the area.

We are on the ground in nashville, I live here, and we only work with investors.

Consider hiring the VAs to handle cold calling, freeing up your schedule to interact exclusively with motivated sellers in real-time, and look at other channels like direct mail, text, SEO, and boots on the ground networking. 

Are there additional taxes to pay? 

Actually now if someone can pay me to do it, I would do it by now LOL .... this is way more profitable than chasing CF.

The key is putting together a trusted team on the ground.

I offer either 10% monthly and manage everything including accepting rent and paying owners, or on call management. 

Tenants pay for utilities, so for expenses I have vacancy 8% ($198), taxes $395, insurance $85, maintenance 3% ($74), CapX 5% ($124).