Landlording the House Next Door

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I've seen a few posts around this topic, but nothing that quite answers my question. 

My wife and I may have an opportunity to purchase the home next door to ours in the coming months. Our neighborhood is getting younger demographically, great location just off a major highway into Philadelphia, and the numbers are looking good, so there is a chance we will put in an offer before it goes to market. 

My question for the group: should I manage an investment property that is in close proximity to my home, in this case, right next door? The proximity is both attractive and frightening. Has anyone had a similar experience?