I tried 3 local banks for a heloc but my credit and the debt to income ratio is both working against me but I've already sold everything that is not a necessity..  

Then if you decide to manage yourself, that money is a bonus rather than a necessity to make it a good deal.Look at where you are from where you started, 29% down to 9% just by adding in a few rules of thumb. 9% is still very good and much more realistic, so don't start crossing out line items like paying a PM because you perceive your situation to be unique.

So would a property management company be an absolute necessity or are there any other options on acquiring a property in locations like Orlando and generating income?

I will consult an attorney on how to do this correctly (I assume that's a necessity?

@James WiseYou know your stuff so why was a $48,000 dump truck a necessity for your business?

They want features and amenities that have nothing to do with necessity or value.

Building a relationship with them over time is a necessity.

I would agree with the necessity to lease the new place out for at least a year.

I believe having in house property management - that will forever have skin in the game with you and your investment is the #1 necessity in purchasing out of state.  

You're not required to have one, not a necessity, but i do suggest it in NJ.