Agreed with Account Closed - putting real estate, or a real estate partnership - within an S-Corporation provides effectively no value, while creating significant headaches and tax consequences.The only real benefit left for an S-Corp is partial shielding of employment taxes - but a rental property already doesn't produce any self-employment taxes, so the one benefit already doesn't apply to the rental.Then you have problems with not getting basis in the debt of the property, having a lack of flexibility on future structure, issues with distributions in excess of basis...just nothing about it is good.If the Partnership hires a property manager, and that property manager ends up being your S-Corp - great, now you are perhaps better managing your exposure to self-employment income as a result of these property management fees. 

However, the dog has excessive barking whenever the tenant is not home.

You should only consider switching when your current software has a significant flaw or lacks features that force you to spend excessive time on workarounds.

PHX has a hillside ordinance that's not that easy to navigate, so you may lose SF due to excessive slopes or what the ordinance dictates.I'd suggest doing a bit more research - can you get a survey of either property? 

You increase their energy bill by having to run the pump excessively.

Umbrella policies only kick in to cover any excess of what your initial insurance coverage doesn’t cover.

Fico Scores can drop fast when a person starts to open and take out multiple LOC's and mortgages which is considered "Excessive tradelines" based on your DTI.Helocs are great for quick renovations or repairs and should be used and paid off or down quickly.

You’re looking at turning a $500k gain from tax free to a tax bill in excess of $125k.

(A) Any security deposit in excess of fifty dollars or one month's periodic rent, whichever is greater, shall bear interest on the excess at the rate of five per cent per annum if the tenant remains in possession of the premises for six months or more, and shall be computed and paid annually by the landlord to the tenant."

Following Mark's program, I replaced my executive income in 17 months and 3 days.In 2015, I completed 68 sales, in 2016, we have already completed 160+ deals and over the summer we closed on a $800,000 bulk deal worth in excess of $3,200,000.