Maybe one of you can help....I run a property management company.I have a new prospect that wants to go through with a contract.

I'm not sure how I can be of service, but I'm always happy to help out.

Shelly and I have always been driven to help people, especially those facing tough times.

Yes, definitely reach out to an accountant for help with an LLC, an IRS EIN, accounting software recommendations and tax planning. 

This can help you cover your mortgage while you build equity and gain more experience managing multiple tenants and building out better systems and processes if you do decide you want to pursue larger properties. 

However, if my old college friends want to live with me and help with the mortgage I thought it to be a great house hacking scenario.

Does anyone happen to know if there is anyone that can help or at least guide me to a person, place or thing lol that would have reputable training.

@Michael Plaks, information on the link you sent was very helpful but as you said, I can't get a clear picture what I need to do on my tax.

They have helped my parents retire comfortably, paid my kids way through college and been a great way to store and build wealth.

Hope this helps get you started!