Then when you inform the newbie of the reality of dong subject to transactions, or I inform them about the pitfalls of originating hard money commercial loans, they accuse us of being bias, killing their dream, "hating" them, etc.  

A good PM can turn a mediocre investment into a solid return; a bad PM can ruin a good investment.A good PM can also help you narrow in on the best neighborhoods, cross-check what your REALTOR tells you, and line you up with solid contractors.I'm biased, but I don't think there's a more important person to have on your team.

We're biased for Detroit, but can back it up:)

I am obviously very biased, but I love Salt Lake City for STR and LTR for all the reasons you mentioned. 

However security deposit disputes are considerably more tenant biased now.

My opinion may be bias as my real estate career is here in the Philadelphia area. 

I am biased on this answer, but Wichita, KS is a fantastic market to invest in.

Im also biased though, but while most other hot markets have appreciated 30-40% over the past couple years, several Gulf Shores properties have appreciated even 100% or more, and there is still a ton of opportunity for it to keep growing rapidly.

Neighbors are unlikely to show up in court to testify, plus they may have another beef with the tenant that biases anything they say and you may not know that. 

Public Policy and judicial bias are very real and scary.Distinction between Legal Authority and Practical Authority need to be understood also.