S -Corp, C -Corp , LLC

[Chuck Win]

I have 4 rental properties, All managed by 2 different Companies, One property is paid for, other three I have mortgage. My three mortages (3 different mortage companies) will not allow LLC or S- Corp, Question 1) I was told that S corp would give me a tax advantage ? by subtracting rents or maintenance cost from my W-2 job, I carry a Million liability on each property very cheap. Question 2) which Corp should be created and would I have to Refi or pay off the mortage to create a Corporation . Thank you