Owner Relationship with Property Managers

[Jake Diab]

Hi Friends, 
I intend to close on my first investment property within 3-6 months and I am curious what to expect the dynamic to be with a great, qualified Property Manager. 

For example, I'd would want to have the final say in:
- Approving a tenant based on the facts gathered by the PM.
- The communication to tenants of late / missed rents. 
- No expenses over $200 happening without my approval. 
- Any noteworthy activity or requests by the tenant relayed to me (to stay in the loop). 

I've heard so many horror stories of ignorant PMs that it seems too risky to simply "trust" them. I want to be spoon-fed all information. 

Is this too much to ask? Is it negotiable? How does this dynamic typically pan out, in your experience?