How do I rent out a place?

[Jonathon Powell]

At 19, I finally have money saved up. Just $40k for the downpayment, 10k for fees and such(Hopefully that's enough). To house hack, I heard I can get away with a 10-15% down payment. I'm finally looking for a building to buy! When I do buy, I have no idea what to do. Seriously, absolutely nothing besides I need to find someone who will live in the place and pay me. I don't know how to get contracts; if I'll need some license; where I can learn what I'm responsible for; etc. Could a property manager handle all of this for me? What if I moved out of state and issues occur, would a property manager still handle it. 

Looking at my money, I'm probably just looking at two flats at around $200-$300k. With estimates, I'm sure that money will be coming out of pocket. Probably 4-6 hundred dollars/month, but hey, that's still better than $1200/month paying rent.