I've owned rent houses in Fort Worth in the past and now own two in East Texas and one in Dallas. The bolded has bit me in the ass more than once. As much as it sucks to operate this way, I've never cut someone slack on the rent and not had it fuck me in the long run. It seems like once tenants know that they can slide on payments they will abuse you to the maximum amount allowed.
I had a tenant in Fort Worth pleading with me around Christmas to give him more time on his rent and I did. Dude moved out at the end of January and punched holes in the living room walls on his way out after not paying for 2 months. No good deed goes unpunished.
My business partner does this for a living full time so we get to use their access to Rentredi.com for managing applications, rent payments, maintenance requests, etc. This makes life so much easier and cuts down on a lot of the administrative BS that goes along with being a landlord.
The main thing I have found is that heavily screening applicants is key. It's worth it to do a deep dive on their background/credit/past landlords, etc. before renting to a tenant. Every single time we've overlooked something nasty in their application in order to get someone into a property it has bit us in the ass. We had a guy last year that had a good job but fucked up credit so he got his mom to co-sign the lease with him. He lasted 6 months before getting himself arrested for driving drunk and getting into an accident while driving on the wrong side of the road. His mom ghosted us and we ended up eating the loss because it was going to be too expensive to try to collect.