How far away can I be to still manage my property myself.

[Michael Gross]

Hello,

I'm currently in the market for my first investment property and was wondering how far can I live from my property and still manage it myself? 

I live in Brooklyn, but grew up in NJ. I'm looking a properties in a few different areas, but have narrowed in on areas like Cherry Hill, Haddon, Collingswood (South Jersey outside of PHL).

I would be looking for a place in good shape that should not require a lot of work. With that in mind i'm wondering if I NEED a property manager, or if I have systems in place can I manage myself. Really don't want to cut into my cash flow. 

Also is it generally a bad idea to buy my first property this far away (approx 2.5 hours by car). 

Thanks in advance for any advice you can all offer.