However, in the case of Section 8, this isn't necessarily a good reason to deny them tenancy.I have read of some landlords actually going over to visit the Section 8 applicant's current home, to ensure they treat their living spaces well.

Is there a way in which Real Estate purchases can treated similarly to stocks/mutual funds in a 401k?

And when people show up to spotless units, I feel as though they share a responsibility to treat our space as if it's their own (in fact, we let them know that we use both ourselves from time-to-time, again so they remember that they are staying in OUR place, not merely a hotel)Would you believe that I don't even charge security deposits?

But if one was required, not pulled and my realtor is telling me it wasn’t required and treating this like no big deal, how should I proceed?

If you rent to good people and treat them fairly you should be fine.  

Need to separate the emotions from all of this and treat it as a business.

PM companies for the most part won't treat the property as you would. 💯 These days technology has allowed us to a lot remotely and I am able to manage our properties remotely no problems. 

Treating people as you would like to be treated, fairly and honestly, and most importantly in accordance to the "letter of the law" which is the lease. 

So if half the income goes to a partner personally and the other half to a S-Corp partner, then no diff - I AM NOT A CPA OR TAX PROFESSIONAL ASK ONE BEFORE YOU DECIDE ANYTHING.Reason I like S-Corps is you can bump the benefits (eg retirement contributions) as long as all employees are treated equally. 

Be sure to treat them right though.