I have about 95% of my tenants on electronic payment and it pays for itself 10x over each month in not having to deal with rent collections issues.  

They have problems collecting rent, problems keeping their tenants from trashing the place, and many slumlords that we know, are incredibly behind on property tax, which suggests to me cash flow problems.

Let the cash build up and when the tenants move out, rehab it and collect bigger rent.

I am considering this also but I read somewhere that the home (or, in my plans. triplex) you intend to buy with that loan must not need extensive repairs.

In both cities, the firms I selected are the ones that didn't just answer my questions, but collected information from me ahead of time (property locations, valuation, current rent roll, etc.) and came to me, unasked, during our first meetings with not just their credentials and "sales pitch", but a specific plan for how they would transition the properties, and more importantly, look out for my long-term goals (eg; in the case of raleigh, we have several units renting under market value and the firm came to me proactively with a plan to get those units up to market rent or higher over the next 3-5 years).

Always remember to visit many websites to collect as much information as you can.During the process, if you have any doubt, then feel free to contact an investment company.

On the other hand, my PM company in NYC does little more than collect rents and act as a number for the tenants to call if there is a problem/coordinate fixes. 

If you put them under separate LLCs, then all a creditor can do is collect from the LLC against which he has a claim.  

I don't need it because I have insurance and I don't do anything wrong-This is an extension of #4.

They aren't too close to the streets and in no place that would block a walk way.I mapped out where I was going to place signs using Google Maps, so I'll remember everywhere I need to collect them from once I get to the point of needing an answering service & using a different #.