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Updated 2 days ago, 01/03/2025
How many bank checking /saving accounts are needed as a first time landlord
The House is not under an llc. Just want to start setting up as if it were.
so far i have thought about creating 7 accounts.
1) all rental income account
2) account where common utilities and mortgage will be billed
3)maintence/capex expenses
4)vacancy expense
5)management expense (to put the units up for rent)
6) property taxes
7)cashflow
am i missing anything?