Has anyone ever used or heard if Reonomy? Would you refer this product? Its pretty costly is it worth the investment?

I've been involved with startups for as long as I can remember - eventually landing myself in a fast growing recently IPO'ed startup in LA, working as a Product Manager for their software engineering team. 

In fact, my sister found her last rental via facebook and it has worked out tremendously; however, I will say, it could be worth considering a still listing via a landlord software tool (1 - 15 units) that helps you to automate your own rental process and can help to get a renter in there fast (ie. compared to other tools, one that helps you to actually build a single listing and syndicates it to 10+ major listing sites, allows you to schedule showings, provides you with super thorough tenant screening options, online digital leases which can be customized and help you by breaking out those fees, automated maintenance tracking, and fast rent collection which also offers your tenants the ability to report their positive on-time payments to the major credit bureaus; just another positive reinforcement/added incentive to get them to make those payments on time).

If you do not have a Property Manager software I would get one can check out Builduim, Appfolio, and Tenant Cloud as options.

This is how you automate rent collection for D & F areas:- require that the rent payment is through credit/debit card- you can set this up through Cozy or any Property Management software- most of the people living in D & F areas can't open a savings account: for those people, you tell them to buy a rechargable debit card from Walmart- everytime they get their paycheck, they put the amount in the rechargable debit card- every week, you receive your rent automatically: without chasing them for rent10.

If the software projects off summer season only the numbers would be ridiculous.

Any thoughts on a good option for a software (cloud-based) for managing REI portfolio, finding deals, CRM, follow-up, etc

You can also buy lists from companies like list source and there are some REI software companies that have a cash buyer search feature.

It kind of paints the picture of the bank's software not knowing the difference between an attached townhouse and a detached SFR, so they priced it wrong. 

You can see how the software works by going to youtube and search BLPREI.