@Navi Singh I just found a CPA in Vernon who is comfortable working with real estate investors and LLCs.  

And I know that putting properties under LLCs have other costs and doesn’t necessarily mean the profit wouldn’t count toward my personal income.One of my colleagues here in the Navy recommended that I practice filling out schedule E(s) and C(s) and project what the numbers look like, since short-term rentals like AirBnBs are often on Schedule C and not E.

Also I see that you are a Navy Vet from your profile.

I am currently serving as an Officer in the Navy.

I've done repair estimates on one end on homes in South Holland and on the other end I did a repair estimate for some work on Navy Pier and the Hancock Building and the dirty little secret is the actual cost per square foot is the same on each.

I get out of the Navy in March and I want to have cash on hand so I don't have to worry too much.

James I agree...I wasnt fortunate enough to serve our Country however my girlfriends son just commissioned as an Officer in the Navy and it was cool seeing the respect given through a solute.

Her mortgage is $2500/mo. and we are renting her place out to a dream tenant (Navy officer and his wife) that we rarely hear from, but they keep the place emaculate and the check is in the mail early every month!

my son is a pilot in the navy.

I am a vet, but in my not-so-bright youth I didn't save a lot of money so when I got out of the Navy I had about 20k but I used that up to hold me over until I found my current job.