Creating a separate bank account for rental.
Hello everyone! I am in the process of getting my first rental, a 4plex. I definitely would like to open a separate bank account for all income/expenses/deposits for the rental. Because I am such a beginner, even though I learned about the benefits of starting a LLC and opening a business bank accounts, I don't think I want to do that just yet. It seems like too many new things, I don't know much about it, and I am scared..! I am considering opening another PERSONAL bank account for the rental just for the organization purposes.. Is there anyone who is doing this? and which bank do you recommend? If you really really think I am missing out by not starting a LLC, please fill me in with more benefits and informations as I would still love to learn about it! Thank you.