@Adam Poffenbarger are you self managing? 

The price-to-rent ratios are generally unfavorable, and a shortage of skilled tradespeople and reliable property management can hinder the success of buy-and-hold rental investments.

If you are unsure, to start, hire a property manager and don't let the tenants know you are the owner. 

We also would like to self-manage if possible.

If you call about a property under management, schedule an appointment to see it. 

Year long lease typically, with subletting allowed to offset summer months cost to tenant.I worked out some high-level math: Assuming there is a 6 bedroom single family house for sale for 800k, and I can rent for 6k/month.Financing: 350k cash, 450k loan @30yr, 3.8%.Assumptions: 7% vacancy/yr, $4000/yr repairs, $10k/yr property tax, $4k/yr insurance, 8% management fee+50% first month rent on new leaseMonth-to-month breakdown: Income: $6000 Vacancy, Mgmt fee, repair, taxes, insurance: $2300Loan PI: $2650I'd take home ~$1000/month. 

-- sort of depends where you live and if you want to invest out of state / have the ability to manage a team remotely, the best out of state investors are very active in managing their teams.

I will manage the property through my assistant.

Spending a ton on property management doesn't seem like the best move.

Get a job in property management.