Virtual Assistant (VA) Property Management: Thumbs up? or down?

[Greg Moore]

What is your experience with a Virtual Property Manager (e.g. oversees Virtual Assistant specializing in Property Management)?

I'm a big believer in Property Management.  A good one is worth giving up cashflow for! I've always used local property managers who are experts on the local market where the property is located.  However, I have a new rental in my portfolio with lean margins, and my choices are: 

1. 1) self manage and keep the $250 cashflow
2. 2) use a local Property Manager and make basically $50 cashflow; or 
3. 3) go with a low-cost, overseas Virtual Property Manager (VA) wherein I get property management and approx $150 cashflow per month.

I've never tried option 3, but my research tells me it's ok, since Property Management can be distilled down to a set of tasks that can be done remotely, online, over the phone, etc. (No offense Property Managers! I know you work hard!). Even a phone call to the Sheriff to go post an eviction notice can be done remotely.  So if this was my only choice to keep some cashflow, shall I give it a try?

Please let me know your experiences!