Should I outsource property management in a multifamily building I occupy?

[David Cook]

Hello BP,

I'm looking at finally taking the plunge and buying my first property.  It's a quad with tenants in place and it should provide cash flow even if I am occupying one unit free of charge.  My question is this:  Should I manage the property myself setting aside the extra money I receive from management to jump start my investing career?  Or, alternatively, should I hire a professional management company for peace of mind and a more harmonious living arrangement?  

I've managed my father's portfolio for over a year now and I'm confident in my ability to advertise the property and screen tenants.  I also don't mind rolling up my sleeves to do basic repairs, repaint units between tenants, etc.  However, I am concerned that this property is in a niche that I am unfamiliar with.  All the properties I have managed thus far are relatively upscale single family homes attracting a tenant that makes a bit more money than I do, sometimes a lot more money.  This will not be the case with this quad.  In addition I am required to travel for work on occasion and it would be nice to have someone who I could count on to step in if something did happen.  There is also a peace of mind factor, I want the place I live to be as relaxing as possible, not someplace where my immediate neighbors feel they need to dodge or confront me because they are late on rent.   

I welcome any and all input, thanks for reading!