Bank Account Suggestions

[Rickie Mincy]

Hi BP!

I will be closing on my first rental property next week and Im looking for suggestions on how to manage the bank accounts. Based on my research, Im going to open a checking account for rental income and savings account for the security deposit. What is recommended when it comes to the funds I will be using to fix up the property? Do I transfer that money to the new checking account and make all withdrawals from there, or is it ok to keep it in my personal? Side note- only 1 rental property and no LLC.

Thanks in advance!