Having been in Multi-Family Property Management since 1995, I would strongly recommend using a professional management firm to manage your first investment. Let the professionals do what they do! So many times, investors buy their first property and have no clue about Landlord Tenant Laws, Fair Housing or other governing laws. For the most part, contracts for property management services are performance based and offer a 30 day out for no reason after the initial term (in my experience anyway).