Although the corporation has taken depreciation credits against income tax this sets up possible substantial capital gains tax in the corporation when the property is sold. Also, in order to move the sales proceeds to the stockholders there is the probability of another tax on dividends. Upon retirement or death of the business owner, rental income can continue and is not subject to Social Security tax or impact on Social Security benefits.
Real estate can be collateral for loans with interest probably deductible.
Sale of the real estate will still be subject only to capital gains tax. When the owner dies, the real estate gets a step up in basis thus saving capital gains tax when sold by the heirs. Depreciation of the real estate is a deduction against personal income taxes. These are a few of the considerations in owning real estate personally.