HI - I’ve always found “best markets” discussions a little unsatisfying.It often feels like people are talking past each other — appreciation vs cash flow vs risk tolerance — and the answer is always some version of “it depends,” which is true, but not very actionable.Over time, I’ve come to think part of the problem is that we often mix deal analysis and market selection into the same conversation.For myself, I started trying to separate the two:Market selection: Which cities even belong in the conversation?

As a Texas landlord or property manager, you can keep a tenant's security deposit in any account, including a separate savings account, as Texas law doesn't require a dedicated escrow or interest-bearing account.

Quote from @Ivette Raygoza: Hi everyone—I’m preparing to buy my first out-of-state buy-and-hold rental and want to set up my finances correctly from the start.I’m deciding between:Opening a sole proprietor business checking account, orUsing my personal name but opening separate personal checking/savings dedicated only to rental income and expensesContext:First investment propertyNo LLC (for now)Mostly ACH, wires, rent deposits, and expense paymentsGoal is clean bookkeeping and easy tax reportingQuestions:What did you do when you started and why?

I assume the plan is the rent out the RV separately than the duplex?

Creative angle: there’s a 2nd parcel included that’s currently used as outdoor eating + it has a separate office structure.

Lot rent is separate and paid monthly like normal.My main questions are:How do banks typically treat seller-financed trailer payments in underwriting?

Is it the right process to keep acquisition costs (purchase price, closing costs, rehab) totally separate from anything hard money lender relevant?

Each property will be in a separate LLC and the corporation will hold title to each LLC or property by land trust.  

The garage portion has its own electrical service and could generate separate income through vending, office use, or micro-retail, while the main residence can be rented long term. 

That paper trail matters more than most people think.These aren’t complicated steps, but they’re the kind of details that actually protect you when something goes wrong.If you’re going to take the time to form an LLC, it’s worth taking a few extra steps to respect it.Curious — for those using LLCs, what systems do you have in place to keep business and personal activities separate?