Is there any advantage to doing something a little more expensive but perhaps in a better area?  

They've probably already paid March's rent, so see if the house is vacant and if you can start showings now and get a tenant in place for April 1. 

Not to mention the  emotional toll it takes on a property owner and the aftermath of finally getting your property back then perform expensive repairs.  

@Dev Horn Why do you keep saying postcard mania is expensive?

@Danny Sanchez I had a client close last month who paid $1,200 cash to own his $300k home. 

Pay your expenses for each property out of the respective LLC' account; ideally these should be business accounts. 

PAYMENT DISBURSEMENTS - Incoming rents would come into a general rent account, replenish the maintenance fund for any expenses incurred through the month, take the PM fee, and then disburse the rest into the owners account.

LLCs are expensive.

I am in search of an efficient system  to track my rental properties regarding income and expenses to make it easy for my accountant at tax time.

Eyal, I guess I'm the odd one in the group, but I have never paid for an interior designer on my flips.