Need Help with 1st Rental Property

[Jeremy Fox]

Hi BP,

New member here and currently in the due diligence period of my 1st rental property (long distance-duplex). It’s going to be a conventional 30yr fixed, 25% down. I know it’s best to have a separate bank account (checking & savings) for a rental property from your personal, my question is when? For tax purposes, should I start it once the house is ours and active or should I have been paying the down payment and for all the inspections during the due diligence period through it? Any feedback would be helpful and I’d appreciate it. 

Thanks,

Jeremy