I'm closing on my first property today a 3-family unit. I was wondering if I should set up another personal bank account for all activities. I'm going to be depositing my checks and if there are repairs I'm going to take it out of this account.
I will also be paying the mortgage from this account and if I am short, I'm going to transfer money from another account.
Is this a good idea and what does everyone do? I'm just starting out. Thanks