Should one open up a business bank account before starting out?

[Joshua Sun]

My girlfriend and I have been saving to buy our first investment property. 

Should we talk to a bank to open up a business account? I hear it will be easier for CPA / Taxes later on if all expense from purchase, rehabs, repairs, etc are all under one bank account? 

I guess it will be a good place to collect rent as well. 

If anyone has any other advice considering where the money enters and exits, please let me know. 

Thanks!

[Carlin Randolph]

@Joshua Sun yes absolutely get a business bank account. It will be easier on taxes and also smoother when it comes to hard money. They or any future co-investor do not want to deposit funds into a personal account not to mention they will only do business with an llc. One way to look like a real business is to have its own bank account. Also if any tax audit ever happens you will have a clear record of what went in/out for the flip. Third, a bank account for the business will help you keep record of how much money You’ve invested into the business and how much of a non-recourse loan you have made to the business  for expenses.  Yes get a bank account.