Is it possible to be successful at this while starting out and still working full time?  

Is it even possible?

I anticipate everyone will give you a different answer and its quite possible they all will be right. 

However, there will come a time when self management may not be possible because it simply takes up too much time  - time which you could be using to invest in more rental properties, spend time with family or travel.

It definitely is possible.

When you're ready, here are some good DO's and DON'Ts when getting bids:DOWrite out a detailed scope of work that outlines exactly what you want to do.Clearly define what (if any) materials you will buy and what the GC will supply.Get multiple competing bids.Check GC references, call past clients of theirs and possibly even ask to see their work.Closely analyze each bid and ask a lot of questions on things that are not spelled out.Ask each bidder for an anticipated schedule for the work to be completed.Ask each bidder about their desired payment terms.Sign a contract/written agreement with the successful bidder.DON'TWaste people's time if you're not serious about hiring them.Walk the job with competing bidders at the same time.Assume that all GC's will see the work happening the same way.Pay large sums of money in advance unless it's justified.  

Always do a math analysis and try to look at the prospective properties before you make an offer or at least have a clause in the sales contract that allows you the time (usually about 15 days) to make a detailed inspection and possibly back out of the deal without a penalty that will hurt you too much.I went to college too (and it is not mandatory) and I got a business degree that emphasized real estate.  

Considering I'm a licensed agent in PA (although my license is currently in escrow) I'd like to be as legit as possible!

Whereas in SFH, if you find the right tenant/family, they could possibly be long time tenants. 

@James DanchusYea, I don't know how it's possible to get 40 addresses/hr, unless they're picking a long avenue and just adding all the properties along that road.