1st investment property? Property manager?

[Jonathan Sheftel]

Hi everyone, 

I'm looking into my first investment property and would say that I'm definitely a bit nervous, and looking for any advice and/or tips. I'm located in Allentown, PA with plans to move back to NYC. The properties that I'm looking at are rather old, C-class, need maintenance, and with lower-income tenants. I found a property, wherewith a property management company in place at an 8% fee, I'll still see a 10-11% CAC return. 

Does it still make sense to do this? People I have spoken to within the market advise the best way to do it is self manage, but given I'll be moving back to NY this will be hard to do? 

Just looking for any thoughts here. I appreciate any comment made. 

thank you,

Jon