Tenants do not get a physical key.You will only ever "rekey" when installing a new unit or if for some reason you had to change your master key for all units (still quick).Weak spot: Tenants have to maintain the batteries.

If rent is not paid physically at a branch (i.e. it is paid online or via bank transfer), the date of payment will be considered the date when funds reach our account.

And in some cities, the two lots have different physical addresses, and the two addresses have their own property tax separately.. so the owner missed-pay one, which is typically the empty land... and most of such owners seem new owners to such a property and probably have not been used to this yet.Just for curiosity, is such a tax sale a valid case?

The physical property has 3 separated units.

M1= liquid cash aka physical money (dollars and coins)M2= Money in your banking account (credits) M3= Money in your bank's bank account (loan-able) easiest way to think of it is if the world did not have card readers how many steps would you need to take to get to physical cash. 1 step to pay 2. access to bank to get cash, and then pay 3. get loan, access bank to get cash, and then pay. 

Most of my MF properties have been value-add with either physical issues or management issues, so usually the first few months to a year are hands-on as I stabilize the property: I'm there working/delivering notices/inspecting units regularly and paying attention to which tenants need to go as I do those things.

How is your physical location and external signage.

Time- checks the dollar out, determines its clean and puts it in his wallet; takes a minute. 

Using 3rd party PM services would allow us to be much more focused on our lifestyle, investing in properties and markets that made the most sense (even if we aren't physically located there), and could set us up to be a true "digital" operation, rather than boots on the ground based company.

Property liquidity varies across product types, markets, submarkets, the property's tenants, capital markets, and other forces.Physical Property RiskDespite your efforts to inspect a property during your due diligence, there is no way to understand the physical condition of each and every component in a building.