Landlording the House Next Door

[Account Closed]

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?

[Joe Walker]

I would self manage.  I'd want to be in complete control of who my neighbor is and how they're treated.  If you hire out management and they know you live next door, I bet they'll come to you first with problems anyways, so you might as well get paid for it.  Just be sure to set some ground rules on how to contact you so they don't knock on your door at midnight because a light bulb burnt out.