It depends on the deal.

I completely understand your frustration — property management can be a hit or miss depending on the company.

I saw what happens when these things start to go south and from my mind most of these companies that could be struggling now simply do not have enough staff to handle all their investors needs in a timely fashion and when things go bad like we see posted on BP right now lack of up front communications leads to Investors going out of their minds with worry and the blame game starts.

This will depend on your risk tolerance and your goals but you should consider starting with a single-family home to gain experience as a landlord and build your network.

Gross revenue varies depending on management company.

It all depends on the situation.

Depends on your investing style of course but I do not believe there is a better turn-key company in the US for those that want to be as hands off as possible.  

@Eva Sha - Yes, I generally advise emerging developers there will be anywhere from 5%-8% in closing costs (depending on the size of the loan), which include lender costs/fees, attorney's fees, and title fees, plus any other consulting fees.

Depending on how much equity in the property would be key as you cannot borrow 100%, if its investment property 80% is max typically. 

If it could do it what it claims to do in a more streamlined and organized fashion, it could be decent.