While there is the saying never say never, however, I would almost never recommend putting rental property in an S corporation. The corporate structure for real estate is not the recommended choice of entity.
Since it is impossible to predict the future, bad tax consequences can occur when real estate is in a corporate structure.
One should not let the tax tail wag the dog, but in this case, there may be an exception.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
