I'll also post my experiences here to share and I will be a frequent visitor to this thread to learn from the experiences of others as well. 2012 is our year!!!

Once it is configured, you can process repeatable processes monthly, quarterly and annually.

Bottom line is these people will not have learned a lesson and will repeat in the future.

I'd recommend going to your local REI meetings and talking to as many people as possible.I would recommend contacting several agents and asking them if they work frequently with investors.

@Semaj Worrell We have a number of student rentals are are quite familiar with their dilemma of not having established credit and/or being required to place a {sometimes significant} deposit with the utility company.That said, students are also young, inexperienced and frequently not entirely responsible.  

My goal is to develop a model that can be repeated from one property to the next. 

I'm not sure how frequently you deal with tenants, but if you have one tenant that occupies more of your time & energy than the rest of your portfolio combined, it is well worth it to get rid of them.

It also clearly states a repeat will attract a fine of $50 plus the tenant will be responsible for any clean up cost incurred by us (this is not part of the lease agreement I inherited, but something I thought of). 

The secret is to hold, but you have to buy many and fast.My method is:1 - Cash in2 - Refi it all out after seasoning (usually 6 months)3 - Re-use those funds on the next house4 - Refi those out and,...5 - ...keep repeating until you can't get any more loans.  

-Paper work, setting up all of the documents which I did not realize how long it would take but now that I have set up all of my documents to be ready made docs, I just need to change a couple of things on the next one to allow repeated use of them.