PayNearMe lets your tenant use 7-11 stores to pay rentActually, apparently even more:  from their site: "PayNearMe lets property managers and owners collect cash rent payments 24/7 at local stores that include 7-Eleven, ACE Cash Express, CVS Pharmacy and more.

Correct me if I am wrong, but dont the banks simply turn around and sell the exact same loan again at a higher price as a performing loan to the same private investors ?.

Actual current performing value is at a 8% cap rate is 124K.

I’ve been looking around on a lot of different sites and pages and haven’t found anything.

I usually search for property management companies on Google and then go to the sites of the ones with top reviews.

All the answers you seek are in this site along with many many others. 

I would still classify myself as a newbie in the real estate investing world, i have 3 rentals currently, but they all came from my military days as personal owned homes that i kept and turned into rentals, i had 7 rentals at one point, but i sold off the non-performing properties as soon as i could break even on them.

Based on my income + about 70k in savings from selling non-performing properties i have been debating a few ways of going...I have been keeping an eye on MLS listings since i still hold my real estate license for the past few months and Craigslist for cash deals, but i feel the prices are just terrible right now on your typical 3/2 rental properties...Option 1: Should i keep looking for 3/2, 4/2+ under 150k deals for rentals in hopes of something popping up?

For smaller properties, an extra vacancy can throw the property immediately into negative financial performance. 

Currently, I am working with a PM company in Richmond/Tidewater area that manages over 2500 properties, and very happy with their performance and overall efficiency in doing things.