I figure, from the IRS standpoint, they just want me to show profit/loss. As long as I keep track of this, they don't care what i do with my revenue, correct?
That is a very dangerous statement. The IRS most definitely cares what you do with your business revenue.
You cannot use your business income to directly pay for your personal living expenses. The IRS has rules on what you can and cannot spend your business revenue on. There are also differences in how money is taxed.
You have an LLC, and although you are the sole member, you must treat the LLC as a separate entity from yourself. If you treat your business bank account like your personal piggy bank you could "pierce your corporate veil" and lose your liability protection.
how do I go about "using" these funds for personal things like buying a home or buying a new TV?
You need to pay yourself. There are two main ways an LLC owner can obtain money from the LLC:
Withdrawals: This is money distributed to the LLC owners after net profits have been calculated. You need to show a profit to take a withdrawal from the LLC.
Guaranteed Payments: In essence this is a form of salary. Owners receive guaranteed payments in exchange for work performed, and it is done so before profits. Because guaranteed payments are distributed pre-profit they are treated as a business expense and can be deducted as such. Also, guaranteed payments are received by the owner regardless of whether the LLC turned a profit or not.
You may also find these other related threads helpful:
How to handle the money with a new start up
How To Transfer Money Between Personal & LLC Bank Accounts