Separate checking account for each rental?

[Mindi B.]

I am closing on my second rental prop next month and want to use an LLC for asset protection. In order to receive rents and deposits I'll need a business checking account.

From what I've learned each property should be a separate LLC and checking account. If I acquire 10+ properties, do I need a checking account for each one? What do people do when they have 50+ properties??

[Greg B.]

I tried separate accounts for each when I started, huge headache. I have one biz account. I do have separate P/L spreadsheets for each property.