I can "cash flow" more from my stocks/index funds and high yield savings account with far less stress. 

If there's a hole, it may be a red flag.b) sensitivity analysis: I examine all the assumptions, and make sure I can live with the worst case scenarios.c) "Stall and see": if they are getting money over multiple years, and there is no penalty for investing later, I would usually wait so I get some real performance data, versus having to look at theoretical pro forma information.d) Recession stress test: I will not invest in anything, until I subject it to recession level stress and see if I can live with the result.

However, if you intend to work with a hard money lender or utilize a short-term loan product, you're on the clock for repayment, which can be stressful if things go sideways. 

Somewhere along the way our society has moved to feeling centric vs thought centric. 

It depends.If you find a PM that is willing only to do some task becaue you're still very involved then go for price.If you're looking for a PM that will ease the stress to where you forget you're even a landlord then quality of service is key not price.

It was certainly stressful to do a rehab loan (non-recourse) and refinance with non recourse loan and budget the renovations.

I felt like I was constantly chasing her down for updates, which added a ton of unnecessary stress to the whole project.The design itself was incredibly disappointing.

@Jay Hinrichs has posted on that in the past.Many people like to try and hide their identity because of the spotlight effect which refers to how people often overestimate how much others notice (or care about) them, effectively inflating their own importance in society. 

Even with a property manager taking a percentage, you’d still see a return, and it might save you a lot of stress managing the property from out of state.

I'd be able to put 20% down on each and have money left over for some repairs/updates.It seems like I'd initially take on more stress, less initial return but the long term scalability seems great.