[Advice] Banking.. LLCs? Separate Accounts?

[Michael Lanci]

Hello, it looks like I'll be finally submitting an offer this week and the agent is representing both sides and seems to think we are in good shape to make this deal happen.

It's my first investment property. I've been reading about separating your rentals from your personal assets. How does BP view creating an LLC per property? If not an LLC what about separate banking for your units? Seems to be an organized and really easy way to track incoming versus expenses.

Is a business account something I should be thinking about or just any sort of checking account (for rent payments) and a savings account (anything extra after mortgage payment)

Any particular banks that are recommended?