How are you managing bank accounts and profit?

[Matthew Terry]

Hello BP Mates,

I'm a budding investor and went from 0 to three properties in 6 months. I will purchase one or two more by the end of the year. I want to get my systems in place now before things get busier for me. This is how I intend to organize my business and manage profit-taking:

1. Every property is owned by a different LLC and will have a different bank account

2. My wife and I own an LLC that owns each property LLC and has it's own bank account.

3. I will leave 6 months of PITI and 2% of the purchase in each property's bank account for reserves

4. Every month, I will withdraw the cash flow from each property's bank account into my holding company's bank account

5. We will withdraw from our holding company's bank account if we decide to enjoy the profits or redeploy into an investment.

Does this seem simple, safe, and organized? How are others organizing their bank accounts across several LLC's?