This best practice is no different than if you receive a physical check from a tenant.

He had been receiving “rent” for 7 months.

I received some intel from a family fried who is currently a student there, and it aligns with your insight very well. 

Well I can't help you much, as I barely received my Salesperson License last week, but I am also from the Ventura area and looking to invest in the future.

Typically, a Buyer will go directly to the Seller's agent hoping that since he/she is going through the same agent, he/she (the Buyer) will receive some type of discount since the Seller is saving on commission.

If they refuse either option, document it with a memo and do it anyway.

Most of our tenants have the payment processed 7 days before the due date to ensure we receive payment in a timely manner.

Today I received the loan docs and my issue is that the rate was locked for me at 4.875% which seems high.

Someone mentioned the idea of having a shared place for investors to upload appraisals that they have received for properties. 

Not only do they make sure all your i's are dotted etc but they serve as a third-party to receive the proceeds of your sale.