Pros
You have the ability to work from home as long as you have a computer and strong internet connection. You also get to manage your own schedule.
Cons
Fully independent contractor - no benefits and you are solely liable based on extensive contract you are required to sign (read contract very carefully before signing). Also, supports that are supposed to be in place with families/schools (parent or paraprofessional available during sessions) often not in place, making effective therapy very difficult and frustrating. Also, therapist has to account for all minutes billed, down to the minute details. Making every communication/phone call/email/meeting (and there will be A LOT of them), along with all other type of therapy documentation is very time consuming. You will be questioned about spending time on all this documentation and communication, and limited on what you can bill for it, yet you won't be an effective therapist in this practice model without doing all of this.