I'm new to this: To hire a Property Management Co, or not to hire a Property Management Co. That is the question

[Steven Monaco]

I am in the process of purchasing an investment property in FL and have noticed a big difference (both monetarily and services offered) in Property Management Companies. The fees can be anywhere from 7% - 10% + (so many different variations it's confusing). I'm thinking of taking care of it myself, but I live on the opposite end of the country, however I do have local "connections" to help if /when needed. So, is it worth the monthly cost to hire someone to collect rent, et al, or see if I can handle it and get by with a little help from my friends.......Thanks!