You have to worry about things like guests trashing your space, noise to your neighbors that you can't control, getting bad reviews, etc.

Not a bad idea at all in my opinion.

There are good and bad but you'll mostly hear about the bad.The truth is, if you want good tenants you need to educate yourself on what makes a good tenant and then screen applications until you find one.If you want a good property manager, you need to educate yourself on what makes a good one and then screen them until you find one.Far too many Landlords hire the manager with the lowest fees or the nice office or the pretty face or the fancy car or the...you get the point.

7% isn't bad, but it isn't great either.

Some are good some are bad.

Don't be one of the people that gives the niche a bad name. 

Bad experiences?

Trotwood is bad news.

The faster you start making mistakes, that faster you will be a bad *** investor.

In couple of two weeks visits, I rehabbed it with the craigslist “proffies” for like 15K, which was not bad at the time.In retrospective, there were two things, which significantly reduced cash flow:the location- as excited first time “investor” I did not pay attention to numerous sump pumps (the house actually sinks in the swamp- not unusual in New England)the property manager- I had one great guy for the first four years (also found in craig).