@Becca F. thanks for confirming our warning!

Above you heard the warning shot about WF...

When I asked if we could go look at the house she warned me about the stuff outside, saying she had to leave "in a hurry" and she threw a lot of stuff outside when she left. 

Call me difficult all you want, but I'm posting an important warning to the BP community: you cannot set your S-corp salary based on some rules of thumb, such as this 60/40 urban myth.That said, there is also no such thing as paying yourself out of a disregarded entity and no such thing as an LLC "owned" by an S-corp.Now you make me guess what your actual setup and your actual intention is.

I believe what everyone else has said and the other warning I would give you is DO NOT pay any money up front for an application fee or something like that. 

You have to have the personal protection either way, at which point the LLC is less important.An accountant once warned me to be careful about using the LLC to manage the properties if they are not owned by the LLC because it could potentially trigger taxable events. 

I overlooked some warning signs.

If not, I would give the tenant a written lease violation warning for not reporting an issue in a timely manner.

Welcome to the BP community @Gurvinder Arora!

We have had so many situations with people trying to sell vacant land they don't own, that our MLS put out a warning about it for all agents.