Looking over your pros & cons...I think your pros far outweigh your cons.In regards to your thoughts on personal responsibility...you could put your home in a trust for anonymity sake (although that might not hide the fact that you that any potential litigants against you know you  live there).  

I think too often people want to hide their mistakes and show off their successes.

and tell the person before they sign the lease and make it part of the lease but dont hide it., 

If you intend to hide a pet within your unit, please reconsider to avoid causing your own eviction.

As I have both moral and professional license reasons, we would not be us hiding anything and deposits would be made into our bank so we'd still have capital gains tax. 

Everyone knows thanks to the improving economics, foreign buyers willing to over pay because they want capital preservation more than cap gains, hedge funds basically doing the same over paying for capital preservation that there's been a significant drop in Cap rates and cap rate pricing of property.cap rate = NOI / asking priceWhen cap rate drops and the seller or broker is smart enough they hide expenses, move expenses below the line etc to jack up NOI resulting in an explosion so to speak in price.

Many are fearful of knocking on a stranger's door and the last thing they want to do is start talking about the foreclosure.Most of the other investors in your market, are mailing out letters, hiding behind the phone and waiting until the Sheriff sale to buy.Get out in front and beat 'em to the punch with door knocking!

One is trying to hide income from the X wife.

I would double check on what you have to disclose and in most cases would disclose just to be safe, its not like your hiding anything or someone wont buy because your related to the owner / company.

Oh god where do I start....You may have seen me on The First 48 following a murder In one unit of a building we have had 3 tenants die in 15 monthsVarious offers of sex for rent to maintenance staffThe Feds took over property we managed as owner turned Out to be a drug traffickerMore fires due o stove left on than I can countEmployee/ resident shot coming home late night from guy hiding in bushesTenant mad because apartment broken into and her cake she baked was stolen....not concerned about the rest of her stuff Countless tenant stole the kitchen and left water runningI could go on for days from stuff over the last 10 yearsI will challenge any pm to a trade off of great management stories.....property management nothing to it