The barrier to entry seems high, and the price-to-rent ratio isn't very favorable.

I agree that pricing a rental too high is a classic mistake than can make it sit, but don't you think encouraging landlords to rent quick will make them compromise on the vetting of the tenants?

But if this is purely an investment, the high maintenance fee is a major concern.Now, let’s look at what happens in the next 5 years:Refinance After 5 Years: Assuming 4% appreciation, your property value will increase to $1,216,653.

There are numerous threads about sub to and many investors believe it is a high risk strategy (especially for seller) and believe buyers who use it “take advantage” of naive sellers.  

The rates are high right now but these loans are limited based on cashflow so you cant take a loan that costs more than you're receiving in rental income.

Demand is very high, both for rentals as well as for sale and this is probably not going to change.

Well-maintained homes: Homeowners tend to spend more time and money maintaining their homes, which contributes to the overall quality of the neighborhood.

I'm curious about the size and quality of a house you could build for $375k. 

So - with something like that in place, I would tell you that a property manager is highly overrated (perhaps the better way of saying it is "over-paid") for the amount of work that is typically needed in a month.

As a licensed contractor, I can provide insights to make sure you’re getting the best value and quality for your project.