Just FYI, I am in the same boat and I have been checking into some rental management companies also, just make sure you check and see what their terms are along the lines of like one I found wanted to take full two months rent (first/last) to cover administration fees=BS! Another wanted to charge a vacancy fee to me if they couldn't manage to rent the place out. Just stuff to be aware of, I am thinking about just having an attorney write me a contract up and renting it myself.

You cannot make money from a distance on a rental home.
period
Sell the house, take the loss and move on

in 2 or 3 or 5 years the loss will be much higher.

For a different take on it, don't rent it out. Advertise it for a rent-to-own. Make them pay you some up front money and do a 2 year lease where they can buy it at the end.
Go to a real estate attorney and tell them what you want to do. They can draw up the contracts.
That way the house won't likely be trashed.

I think what was meant was that over the long haul if you aren't there to actively manage your investment you will get burned. Some people win in vegas but I wouldn't call it an investment strategy.

I like the rent to own idea, still risky, but I know a real estate guy who does those every chance he gets, due to the increased income. He told me in 10 years he hasn't had a tenant buy a house yet.

From what he has told me price is set up front with a 2 year option. So if they don't buy after the 2 years they don't have the option. From what I have gathered fixing stuff is just like a regular rental. He doesn't give them a deal on the sale price. And I think only part of the rent goes toward buying the house, not the entire amount. I haven't asked specifically about that part though.

You determine the sale price by adding, for example, 4% per year to it's current value. Find out what it's worth now, add that to the price. Ask for a non-refundable deposit toward the option of buying the property. Let your real estate attorney know all this to put it in the contract. The deposit should be around 5%, which is a deal for them compared to a bank. They should know what they are going to pay for the property up front.
Also, in the contract, make them responsible for anything over $500, and you anything below that. You can find a local handy-man by referrals that you can trust to take care of minor repairs(light replacement, etc.) Make sure they're insured, etc.
You'll have two contracts. One will be a standard rental. The other is an OPTION to buy. Put in the option to buy contract that they have to pay on time every month and maintain the property, etc., etc. to get the option to purchase.

Also, make them pay more than it would normally rent for(maybe $100 or whatever), and then apply some or all of that to the purchase price(also non-refundable if they don't buy).

Profit!