And when he said that sellers are better off dealing with wholesalers than with listing agents I had enormous difficulty keeping my mouth shut and remaining polite.

What makes it more difficult is that traditional metrics like ROI or cash flow are only snapshots in time.

I tend to be an optimist, but some of the CONS include the inabilityto easily view the state of your property first hand, significant additional costs, difficulties with team management, lack of personal connection with tenants. 

Investors buy turn key properties out of state all of the time and I have not heard much difficulty with the PM they are using.  

The issue of long distance difficulty aside I look at the "should I manage, or not manage" debate like this. 

A lot of people have difficulties pronouncing and remembering my name, and I wonder if I would have more success if I use a more common name.

That created difficulties with the tenants who wanted things done outside of our owner's control. 

Definitely no misconceptions around ease or difficulty level when managing low-income tenants.

However, I typically do not recommend these properties to my own long-term rental clients due to the management difficulties.

The normal range is for the monthly commission is 5% - 10%, depending on the amount of total units and level of difficulty.