Justs bought an investment condo

The condo has a tenant in it. He wants to stay on month to month lease. The seller will transfer the last month rent and the deposit the tenant paid to me on closing.I am a remote landlord. I was wondering how to set up an account and let the tenant do automatic deposit to my account on monthly basis.If he has my account number he wont be able to withdraw anything from my account I assume. Can some landlord share some details? The return ratio is pretty low so I dont want to hire a property managment. This guy has been living there for years and has been paying his rent.When i sign up a new month to month lease with him what are the key factors I have to put in the lease? Many thanks!