Bookkeeping While House Hacking Plus Book Recommendations

[Jake Thompson]

How would you recommend keeping the books for a property you are house hacking, aka living in one unit renting out the other? I have a separate bank account which I collect rent from my tenants and then I deposit my portion of "rent" from my personal account so there is enough to pay the mortgage out of the properties checking account. But what about expenses? Do I only purchase items for the rental in this account?

For example, I often go to home Depot and get items for both my unit and my rental unit. Should I be doing 2 separate transactions, one with my personal card and another with the business card? Or both with the business card?

My other question is does anyone have any recommendations on a good book to help me learn bookkeeping basics specific to rental properties?

Thanks!