Management company or no?

[Brad Schmitz]

Age old question in real estate, management company or not? I am entrepreneur and have never been afraid of starting a business, and am thinking of doing it myself. I have built the cost into all of my properties, however I fin that it inherently removes you from the day to day dirty work of the property. Example, I received a bill for replacement of the kitchen sink faucet, and it was reported and replaced. Not that I want to be bothered with a faucet, however, it was $150.00 out of my pocket, and I could've fixed it for far less. 

Anyway, I guess my question is what are the pitfalls and areas of concern in the property management business? Is it fairly easy to get into, or for a novice, is it out of my league?