Are you flipping or land lording?  

I am a mid-size land lord with fewer than 50 units. 

I have seen swat teams raid neighboring units managed by slum lords who didn't screen tenants, I have dealt with abusive boyfriends putting my tenant in the hospital, broken down cars (which leads to them missing work because they can't afford to fix the car, which then leads to them loosing their job and then getting behind on rent), being threatened with a gun (guy lifted up his shirt showing me the gun in his belt), to countless sob stories. 

I can't tell you how many tenants I have met while showing properties who show me the "repairs" they have made, and then go on to explain how lame the land lord is.

@Brad Jacobson - It would be considered non-employee compensation? 

@Brad JarvisWelcome to Biggerpockets! 

Others have already offered recommendations regarding your legal/land lording options. 

Are the Judges leaning more towards the tenant than to land-lords? 

Small home repairs and late night phone calls are a minute part of land-lording, there are also a lot of legal aspects involved. - City rental certifications can be required- There is certain paperwork that you need to give someone at the time of signing a lease with them (lead based paint       disclosure and pamphlet, inventory checklist, etc...)- If someone stops paying rent you may need to go through an eviction process- When screening tenants you need to do a thorough check of who you're renting to- There are several Fair Housing laws you need to be aware of when placing a tenantOften times, a PM company will even be able to cover their own cost by receiving the highest rental amount possible for your investment, most likely higher than you could by yourself due to the exposure and avenues they have for marketing.

I'm very new to land-lording and there was never any kind of a lease with her previous landlord.