HOlding rentals in an S-Corp is a TERRIBLE idea in all but a very few niche circumstances. 

There are good tenants in the building that pay monthly and they were paying to a property management company that was still collecting rents and signing new leases while the property was in foreclosure and had no contact with the owner because he either went MIA or decided to completely neglect the property and let it go. 

In very limited circumstances, the Act exempts owner-occupied buildings with no more than four units, single-family houses sold or rented by the owner without the use of an agent, and housing operated by religious organizations and private clubs that limit occupancy to members."

Our concern is that we will encounter a "Due on Sale Clause" no matter what in this circumstance. 

and now want to leave..).3) if a tenant was a victim of domestic violence within the past 3 - 6 months.4) if Landlord has not maintained the premises in a fit habitable manner (we are so far from that, so much we've spent time or attending their concerns, improving the property and repairing and replacing whatever broke, still wondering if it was a result of tenant's neglect.5) if Landlord has breached the rental contractSince none of these scenarios apply to us and our tenants, they do not have sufficient reason to break the lease and not incur penalties, but to leave us with damages to mitigate. https://www.moving.com/tips/4-potential-consequences-of-breaking-a-leaseIllinois State Bar Association states that written leases prohibit the tenant from subletting the premises, and such prohibition IS enforceable by the law.It also states that the security deposit is money deemed as a security for any damages to the premises or non-payment of rent, and is to be returned to a tenant if no damage has been done beyond normal wear and tear.Illinois Attorney General also states the security deposit is to be returned within 45 days after move out date, if: building/complex consists of 5 or more units, tenant does not owe any back rent, and cleaned the premises themselves before they moved.

If you are regular home buyer or a new investor, you can't buy a house with an existing tank with a leak under any circumstances.

@Mary M.If this is small town as described, I’m guessing a 10 block foot race would get you there and back.I wouldn’t stick a box full of cash in a visible location against the side of a building under any circumstances.

There is a possibility I will only be in the area for 1 or 2 years and I'm looking at which might be best given the circumstances.

Originally bought as a buy and hold but ended up selling to another investor due to life circumstances.

Made a couple of neglected repairs by previous owner.