I agree he's flipping properties. If I understand, and "owner" and "TP" are one and the same, and he's also a shareholder, the S-Corp has to pay him reasonable wages for what he's doing. If he's the only shareholder, I would think that would be all or most of the profits. I realize that S-Corps are commonly used to avoid SE tax, and many are more aggressive than me about avoiding SE tax, but my Social Security checks will be bigger than theirs.