@Jessica Cooper I realize that after a situation like this occurs it is natural to look for someone to blame.

I'm a classic rock guy, but I'll listen to almost anything that's quality.

There is a natural tendency to look back and conclude "I paid too much for this property..should have offered___"I've seen lowballers say the same thing even though they were lucky to sell the remodeled property to a cash buyer with no hassles.

MS rocks is all I can say.

Regards,Jorge E :superman: "Natural Born Go Getter" :superman:

I think low income areas are great investments. it might require that the land lord be more strict on the renter when it comes to the condition of the property. the lease will have to be rock solid so any damage caused when moved out is covered by the renter.

By holding the property as a rental for more than a year, the nature of the transaction is changed from trade or business to passive rental.  

., the price of natural gas hasn't improved much since early 2009.

You won't change the people because their nature is cultural or habitual. 

Yes you can classify the management fee to the S-Corp as income and you can deduct your necessary business expenses, however the income/loss will still be passive in nature, regardless of how you structure your entities.