First Property Bank Account

[Cody Godfrey]

My wife and I are under contract purchasing our first property. It is a triplex where we will be house hacking and living in one of the units.

My question is, would it be better for us to open up a new bank account for all property related transactions or keep it in our personal account?

If we open a new account, do we "pay ourselves rent" or not?

Just curious as to everyone's experience/opinion and what seems to work best.

Thanks in advance!