How to properly account for personal maintenance labor?

[Michael Lettieri]

Hi, I am just starting out as a landlord and am trying to learn from my mistakes. I believe I have not been adequately record keeping my maintenance expenses. I do repairs and upgrades myself and only keep records of the material receipts. At the end of the year I have my rental income minus the material receipts and income tax on the surplus. I must be doing this wrong. How do I account for my personal labor when calculating yearly profit or loss? Do I need to create an LLC to charge myself for my own labor? How does everyone else account for this?