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In regards to taxes and personal liability - LLCs and S-corps are pretty much the same. Both can have pass through income or both can designate to be taxed as a corporation.
However, the s-corp does require a little more effort on your behalf - like regular meetings and filing business income taxes (even if pass through).
The suggestion I would make is this: Some states do not allow businesses to be an LLC if they are required to be licensed (like in real estate). But, it depends on your state. Some states do not allow certain businesses to be LLCs - real estate may be one of them - but it depends on your state.
I would suggest you take a little bit of time and buy the information you need from a lawyer or CPA familar with your state laws and your personal situation. Pay a little now - save a lot tomorrow!
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