Saving 15.3% in Self-Employment taxes with an S-Corp?

[Dean D]

RECPATAXMAN,
If you could go into a little more detail on this S-corp SE savings.
I'm not clear on how the end of year dist. will be excluded of S.E. tax.

I'm currently interviewing Atty's to setup my first LLC and have mentionrd to 2 of them my intentions of forming maybe an S-corp and so far both have talked me out of it. I'm still not positive they are the end all answer to my question as this board has been right more than wrong for me. Next week I'll be meeting with a Real Estate CPA to discuss my future business setup and will again address this issue. I only want to do this once. So I'd like to get it right the first time.

F.Y.I. I reside in Michigan, My intentions are to buy and flip a couple of properties a year.

Thanks again for all the great advice in the past.
Dean