Managing Cash Flow in REI

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When earning money in rental property investing, where do you hold your earned capital? I'm just starting out and am not sure if I can put in a business checking account, SDIRA, or regular account. I plan to draw monthly amount later down the line for myself to be able to quit my job and am not sure if I would need to create a LLC and file my earnings under a W2 for tax purposes. Maybe I have this all wrong, but want to make sure I have it squared away before getting in trouble with the IRS.