New to renting

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Hi All, New here. I just purchased a 2nd home and I am stuck on deciding if I should go with a property management. I have posted my old house on Zillow, Trulia, CL, etc.. and Have been getting a lot of bites!

I am worried however, that I know absolutely nothing about real estate renting. My parents, however have been landlords for 20+ years (asian) and keep telling me that I shouldn't because it could get expensive.

What should I do? spend the 7% on a $1600 rental, or go cheap and learn as I go... and take the hit when it comes up.