Separating Business Finances

[Michael Romanowicz]

Good morning. I am looking for some assistance in purchasing my first rental. I have read the pros and cons of owning an LLC and have been leaning toward not forming an LLC. My thinking is that it will be easier and cheaper for me to obtain a loan from a conventional bank as an individual rather than an LLC (not to mention additional fees for opening and maintaining an LLC). The problem I have run into is trying that without an LLC, I am unable to open business accounts for accurate accounting of investment cash flows. Would I be better off opening a separate personal checking and savings for this purpose? OR should I just bite the bullet and open an LLC?