New Landlord, Property Management Necessary?

[Bryan Kurtz]

 I made a condo purchase in 2022 and it's been owner-occupied (myself) to the present. I am relocating for a job opportunity and exploring my options for renting out my 2bd/2ba condo. My job opportunity will be in Northern California while this unit will be in Southern California. 

My margins are pretty razor-thin to accommodate for property management, the condo would cash-flow roughly $250 a month without a PM. I have sourced some information locally from my agent and gotten some preliminary quotes from PM companies. I would essentially be at even with a PM company. 

My concern is being taken advantage of and cutting into profits that could otherwise be managed myself for only having 1 property. I understand the legal considerations of needing my lease to reflect state laws and be compliant.

Are there individuals here who managed remotely successfully or any strong opinions on why to use a PM company?