Pros
I really enjoy the remote working, but also the work itself. It requires a certain amount of pattern recognition and research/investigation that fits my skillset. It also requires one to be able to be objective and to moderate from outside of any personal preconceptions you have about people.
Cons
Sometimes it can be really boring, honestly, and you need to be able to still stay focused when it is boring. You also need to be able to see things which you really don't want to see. We sometimes are forced to look at quite horrific aspects of humanity which I'd rather not have to even know about, but I balance this by reminding myself that it needs to be done and someone needs to do it. This is also a skillset that many don't consider when they think they'd like to be a moderator, the ability to not let the truly awful things become a part of you.