Schedule C if you a sole proprietor) & you do not have any w-2 employees working for your self-employed business or otherwise.2.

@Cara Lonsdale, well since this is two months old we'll not call it hijacking :)If the LLC is a disregarded entity (it doesn't file a tax return and chooses to be taxed as a sole proprietor) then the LLC and Joe Smith are seen by the IRS as the same tax payer for 1031 purposes. 

@Michael CreamerYou can write off expenses for rental property as a sole proprietor and should be filing IRS schedule E.

For currently licensed real estate brokers, holding an ACTIVE CalBRE MLO license endorsement means that (1) you hold an active MLO license endorsement as a sole proprietor or (2) you are employed as a broker associate by a properly licensed real estate broker which holds an active MLO license endorsement as a sole proprietor, or by a licensed real estate corporation which holds an active MLO license endorsement.

To get a business account setup with a bank, would that require an LLC or sole proprietor or anything.

Since you are operating the rental as a sole proprietor (no business entity involved) comingling funds is not an issue.  

I think if you are an S-Corp or LLC you can pay yourself as an individual outside of that entity or pay the entity as the one who conducted the work (especially if you are the only owner), if Sole Proprietor just make sure you keep detailed records. 

I expressed the interest in creating an LLC and my accountant  advised me to stay as a sole proprietor and get an umbrella policy totaling the value of the hard assets. 

I currently work in online retail and have owned my own business as a sole proprietor for almost 4 years.

Sole proprietor LLC?