Checking and savings account? Money market?

[Leah Mohtes-Chan]

Hi all, 

I have one rental right now and I want to open a separate “rental” bank account. I am going to save all of the cash flow for maintenance, cap ex, future property investments, etc. and want to take advantage of high interest savings rates right now. Can I have rent be deposited into a specific rental checking account and then transfer it to a linked high yield savings account? Would a money market account be better? Other options? I appreciate all the BP community insights and help. Thanks!