I am scheduled to close on my first property next week (praying that all goes well).

The buyer and seller execute a promissory note providing an interest rate, repayment schedule, and consequences of default."

Rent is on schedule E, brokerage on sch.C and they have different taxable basis. 

I'd recommend getting your personal balance sheet, tax returns, schedule of real estate owned, and resume available for these conversations.  

I can enroll in classes at my local yarn shop or on Craftsy.com to learn to be a better knitter or I can choose to just dig through all of the "free" information available online, or see if a neighbor has time to teach me and be at the mercy of their schedule, and learn by trial and error.

Getting their schedule to align with many different repairmen has caused the repair to get constantly rescheduled and/or repairman disengaging because of their headache.  

Even with LLC, can I still do taxes in 1040 Schedule E?

Do those numbers get transferred to a schedule E or am I actually paying regular old 1099 self employment tax?? 

Ive heard several thoughts on this too. The

You have already gotten through the hurtle of acquiring property...now you just need to systematize and turbocharge your investing.I'm happy to point you in the right direction...text me at the number below & we can schedule time to connect.