Well, if you've already hired a property manager and signed a lease, it's a little bit late for anyone to be giving you advice. But here's mine anyway:
Personally, I would never hire a property manager. I don't know what it is that your property manager will do for you, but I am quite certain of one thing: He WILL collect his commision. Whether he's there for you when your tenants quit paying rent and you have to evict them, I cannot say.
The single most important bit of advice I can give you is this: Always tell yourself: THIS IS A BUSINESS. Your tenants aren't your friends, they aren't your enemies, they are the other party in a business transaction. Don't get chummy with your tenants. Whatever you do, don't do like my BIL and get into a romantic relationship with your tenant! And don't take it personal when they are late with the rent; just give them a call, listen to their hard-luck story for this month, and then drop an eviction notice in the mail.
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