Bank accounts for vacancy and maintenance

[Shaun Anderson]

When buying a rental property for buy and hold purposes and being from out of State (in my case out of country), when I find a bank to set up an account with, is it ok or suggested, to use the same account for both your vacancy and maitenance amounts that you put in there each month or should these be kept separate? My only concern would be having fees on 2 separate accounts!?

Would appreciate any and all thoughts.

Thanks guys!!

[Michael Seeker]

I've got 2 accounts set up for 15 different units (4 buildings). One checking account that handles all of my transactions and one savings account that holds all of my deposits. You should not be paying any fees for an account!