Do I have to hire a management company?

I am a Real Estate Professional who bought a Property Management Business a little over 2 years ago.

I self manage that as well. 

However, with the projected negative cash flow and uncertainties of remote management, consider the financial strain and risks.

I purchased my first property couple months ago in Feb.  Have a good tenant.  My first property was turnkey, ready for rent. Should I wait until I have enough savings for a 20% down payment and do the same again?  I ...

I own and manage a single-family home and a 4 plex in Metro Detroit.

Used Zillow Rental Manager.

If you're planning to invest out-of-state, I recommend reading “Long-Distance Real Estate Investing: How to Buy, Rehab, and Manage Out-of-State Rental Properties” - I found it to be very helpful when I got started investing 2.5 years ago.

Ultimately, the decision should align with your investment goals, risk tolerance, and the amount of time you can dedicate to managing your properties.

typically if you are out of state investor, I recommend you have a local PM to rehab and manage the rental.