Bank Accounts for Rental Property Investing

[John Akhlaghi]

I have not purchased my condo yet for my first rental property, but I have a question about setting up a business account both checking and saving. I am planning to start a business account with my credit union and later decide if I want to move my money to an online account. 

From my current knowledge, I know that your suppose to save the security deposit in a savings account and hold it until the tenant moves out and also to keep the cash flow in the savings account. I was wondering if the reserves should be kept in a business checking account and that should you spend money on the housing expenses with the business checking account? 

Not many investors talk about setting up business accounts and I was wondering to get more information about setting up bank accounts before I buy my property.