Best to work with a white label that you can work with, ie. add your own components and bits to the white label product. If not you will lose out SEO wise. Though if you have a type-in-traffic domain a white label could be a perfect solution to start earning good income.
Obviously the benefits are that all the work and updates are done on another server for you. The downside are that you don't really have much individuality to your site unless you add your own and that most search engines won't like you, etc.
Questions to ask:
How good is your marketing?
Where will your users come from?
How will you find them?
All questions to ask yourself before you implement your solution. Also some white labels will pay more and perform better than others. Research or testing should be done beforehand to find which ones to choose.
Hope this helps.
stevey
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