I've been running level 1 and 2 missions. I have 300 items in my hangar now and I'm feeling like a hoarder. What's a good rule of thumb for keeping, selling, or reprocessing?
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I sort my loot by meta level (you may have to add the column to your hangar or container that has the loot, because it may not be enabled by default).
All the meta-4 stuff goes to market; everything else ends up being reprocessed because hauling it to market is too much trouble from nullsec. If you want to be more nuanced in your approach, try using Eve Refinery to determine whether to sell your loot or reprocess then sell the minerals instead.