Best practices for bookkeeping if not under LLC

[Account Closed]

Hello,

I'm closing on my first deal and have decided to hold off on putting the property under a LLC. Since I wouldn't have an EIN to create a business checking account, am I allowed to simply open a new personal checking account and tie that account to any P&L for my rental property? I wasn't sure of best practices for owners not holding the property under a LLC. Thanks!

[Soh Tanaka]

Having a separate account just for your rental business even if it's not under any entities will make reconciling much easier,