Since starting my wife and I have yet to miss a single payment of rent, we have batted 1000 for over a decade (just made youtube video on it that goes into greater detail) but the main reason behind it is because we avoid areas that are extremely tough for landlords. 

I'd go to every length possible to avoid hard money as a first time flipper, including: - Move into the property and use a low down payment FHA or conventional loan, and a 203(k) loan for the rehab- HELOC- Personal savings- 401(k) loan- Personal loan- Margin loan from stock account - Etc.

@Dee Bral 3 weeks is nothing for a qualified tenant, as long as they make the deposit and rent payments now with a signed lease.

He'd make all his payments into an escrow account and I'd only get the money when I deliver the condo to him.

I am located in lower Fairfield County and the FHA or low down payment conventional loans do not get much traction with the amount cash investors have in this market.

I take all the payments from tenants directly using Zelle or Venmo.

I wonder if anyone used Venmo to collect rent payment?

I have about $50k cash that I can invest towards a down payment.

So maybe this is their test and realize they better move back to a "simpler" place than the edge of the desert...

You're just supposed to switch your rent payment for a mortgage payment, and if the rent covers some of the mortgage such that you're paying less, that's great.