Help Newbie with Finance / Tax Implications for Rental Property

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Hello,

I am new to the rental property investment world, and was hoping to ask for some tips / guidance as I navigate this process. My main concern is around optimizing my finances (personal taxes), as well as making tracking finances related to the property as seamless as possible.

Background:

• I currently live in a different state in the US, but will be purchasing a home (which could be a townhome, condo, or standalone home) in my home state of Texas
• I plan to rent the property out for 1-2 years, and eventually use it as my personal residence when I eventually relocate back to Texas
• I already have a good idea of my budget, target areas, etc. and I've had initial conversations with a local realtor and lender for the mortgage. I should be able to be pre-approved (exceeding my target purchase price) based on good credit history
• My main goal with the property is to build equity over-time, not profit off of rent payments for the 1-2 years I plan to rent it. I am fine with breaking even or taking a small loss between monthly rent payments and the mortgage, given my main goals are long-term value creation

Questions:

• What is the best way for me to claim 'rental income' (rent payments) from tenants for my personal taxes if the property will be listed as my primary residence (within Texas)? I have no out-of-state property ownership, just rent part of an apartment. I will use a CPA for my taxes, but wanted to see how others have done this. Will I still use a Schedule E (Form 1040), or some other way?
• I only plan to have this, and possible one more rental properties long-term... in the short-term, will it be fine to purchase the property myself (as my primary residence), and then eventually set-up an LLC if needed down the road?
• Are there any general tips for how I can best manage the property finances (e.g., I was considering creating a new personal checking or savings account to easily track all transactions - down payments, rent payments, insurance, utilities, etc.)
• Are there any other general tips to consider as I start this process?

Thanks in advance!