Talk to local investors (someone unbiased, not an agent or wholesaler) and experienced property management companies who will let you know rental rates for different areas, tenant base, etc.  

Fellow Hampton Roads landlord & property manager here. 

At the same time, educate yourself on how to manage the property well (most investors miss this critical step).

I will be closing on an investment property this month and I wanted to know if it would be best to self-manage or to higher a property management company.. 

To manage risks, keep some cash saved, spread out your investments, and keep up with market moves.Good luck!

Well, if you rolled it over to a Roth IRA where you manage it it might be better.But, if rates rise a little more, just pull from your retirement funds to cover. 

Travel Expenses: If you travel to your rental property for maintenance or management, those expenses may be deductible.4.

I have a vacant rental that I am trying to use a property manager for the first time in Sonoma County (Windsor).

The purpose would be to rent it out through a property manager just like a regular single family home.

- Expertise & Track Record: experienced team with a proven history of success- Market Knowledge & Network: local market expertise and strong industry connections- Financial Strength & Flexibility: access to capital and flexible investment structures- Operational Efficiency: effective asset management and cost control through vertically integrated property management and leveraging economies of scale- Innovative Strategies: value-add projects, portfolio diversification, distressed funds, niche markets, etc.- Technology: use of data analytics that can lead to more informed investment decisions, and integrating innovative technologies to improve operational efficiencies as well as improving tenant & investor experience- Strong Investor Relations: consistent, ongoing and transparent communication and educational opportunities for investors, including a peek behind the curtains inviting them to the office for events and internal investment committee meetings- Customer-Centric Services: customized solutions to meet specific needs and interests of various investors and full-service offerings from brokerage, property management, leasing, to funds/syndication opportunitiesWhat else did I miss?