I'd love to have my next tenant pay me two weeks in advance!

Greg:    First, do not get discouraged by anyone, someone else is doing it so you can, not going to be easy.If not done already I suggest to look into this:Enforce that PM uses a great website for rental screening, ones with a background check and choose the best tenants possible.Review you leases to close any pitfalls and enforce the lease to the T.Keep the units in good shape and keep extra cash reserves ( fixing + trip expenses )Tiger than normal lookup on the PM ( have second PM line up ), vacancies, unit showing costs, repairs, fees, etc,  require a once a week normal operations report and a once a month full operations report.Family, friend on virtual assistant that regularly drive by the property and reports to you, or if cash flow allows and deem beneficial you can install security cameras and remote view activity on the property, nowadays there are lots of options.Check if feasible to get a home warranty plan for the units so some pain issues are self-managed by the tenant via a phone call to the warranting companyIn which city/state is the property? 

For 10 years I used padzilla, also known as tenant-net, for eviction and credit report screening. 

In Portlandia were are see price concession and or free rent etc on some of the new build real high end 2500 dollar elevator buildings on the east side.. this is happening now.form what a friend of mine who owns a management company with 6k plus doors was telling me at lunch.a few buildings are stressed right now.take this scenario.. you buy the land 3 to 5 years ago it takes at LEAST 2 years to get through permitting then another year to build.. cost of building in this time has gone up 10% or more.. land is static .. and your proforma show this ever increasing rent.. you now come on market and your 4 story elevator building now cost you 400 a foot to build.so your in a new apartment 400k.. you need 2,500 a month just to hit your investor grade 4 to 5 cap.. and now rents start to pull back as they are or lease up is very slow at those values.. so you have full amount of debt on the building and of course everyone these days has max debt.. so debt service and DCR ratios start to go out of wac  you have annual reporting and loan covenants .. you no longer meet your covenants and you have a cash call to your lender  along with negative cash flow.. this is what I mean by some are stressed..

Thank you in advance.

I don't play in that sand box and I am easily confused by all of this advanced stuff...  

Make sure you have good power of sale clause, as well as having them sign a quit claim deed in advance so if they do stop paying, you don't have to chase them down or spend money to get it from them, if they vacate and disappear.

This is my first post on the bigger pockets forum so thanks so much in advance for any feedback!!

Thanks in advance.  

Thanks in advance!!