When I first started buying real estate, I made a conscious decision to avoid rentals because I had no interest in being a landlord. Like you, I heard all the horror stories of nightmare tenants, late night plumbing problems, lead paint hassles, and evictions. I wasn't interested in putting a lot of time and effort into screening tenants, dealing with vacancy and repair, and going to court.
In fact, the very first book I bought on real estate was Lonnie Scruggs' Deals On...
More about: Real Estate Investing - Are You Landlord Or Investor?