Checking accounts for rental properties

[Brian Grant]

I am hearing for taxes, financing, and legal organization that creating a checking account for each rental property is advised. I want to start organizing my self properly now as I am just begging. I am concerned that in the future this could be quite a lot of accounts and curious how others do this. Please let me know your advise. Thank you

[Shaun Patterson]

Im not an accountant or Tax guy, but from my experience I would say If you are self managing then I wouldn't have an account for each property. Get a software program that is able to manage the finances for each property that you own. Now if you have a different llc or entity ownership for each property then yes you have different accounts but still have the software program that manages each property and entity that owns them for taxes and so forth.