And, as required by most states, the forner tenant would be notified of the status of their deposit, even if this means sending the notice (and then collecting it) to the last known address...the rental property.

Master Lease", the way I have heard it explained by David Tilney is that you lease the property from him from him and take a % of the money you collect. 

Also you may have a very hard time collecting on any judgment against the tenant for any rent/damages beyond security dep, so it usually behooves you to get it back on the market quickly.

Collect monthly checks via on-line, tenant deposit rent into a local bank, and etc.u.) rinse and repeatI personally prefer online rent deposits.I most likely miss a step or two, fyi

How will I collect the rent?

Everybody has got to live somewhere and collecting rent checks isn't rocket science. 

Not collecting rents, etc.You must hire a property manager which adds to costs and you cannot do any maintenance yourself so you end up overpaying for work to be done.

You'll look to collect about a 10% dp on these properties (sometimes more) when you sell, so you can very easily recoup your 6k marketing costs in one or two houses just from the up front money you're receiving.

It sounds like you have had quite the collection of experiences in real estate!

cant collect double rent.