To their credit they have had good communication with us and have hired the last exterminator that got the job done.

It'll increase your equity in the home, and if done correctly, you'll be able to pull out your funds in 6-9 months and get a second property going.

Choosing markets with direct flight access simplifies logistics.After setup, frequent visits are unnecessary if you have a reliable team and good communication.

Is this correct?

Sometimes the housing agencies help to correct behavior of a tenant who is violating a lease.Cons - The biggest con is just government bureaucracy.

Quote from @Ivan Terrero: @Mostafa KoperlyMSO's like DSO's look for opportunities to exploit nationwide because they are backed by PE.That’s correct.

You will note there is no mention above about being a good communicator. 

Working with contractors can be extremely difficult as projects get delayed and there is poor communication(red flags were not present before project began).

But if set up correctly, they can be more consistent performers over time and have more predictable cash flow. 

It seems if you are far away from this property then it might be a good idea to consider hiring the services of an experienced property manager who really could provide ongoing communication during the whole stay.