Tracking Rental Property income and finances
How do you guys track rental income from your properties? More specifically, do you put it into a bank account (savings or checking) that is specifically for your rentals? What are the disadvantages/ advantages. I only have 1 property so far, and am not operating under an LLC.
I am also setting aside a % of my rental income for vacancies, and repairs. Do you group save this into the same account where all your rental income goes and just track the amount thats supposed to be for vacancies and repairs via a spreadsheet or something? Is it suggested that I open a credit card for my real estate matters only?