What account pays for common expenses

[Dave Garlick]

I just closed on my first deal consisting of two duplexes next to each other but they are on separate parcels. We did do two separate conventional loans which was recommended by the lender.

I know there are a lot of opinions about various different strategies on how to hold the properties and how to manage the finances. At this point I have chosen not to go with an LLC just yet and hold them just in my name as my lawyer recommended.

Since I only have two properties so far, I have created separate checking accounts for each property to keep expenses separate as was recommended by a number of people on Bigger Pockets who only have a handful of units. My question is, for those of you with separate checking accounts for each property, how do you account for and pay common expenses that can't be attributed to one property or another?  Which account does it come out of? Do I need a third account and if so, how do I fund it?

I have been looking for a CPA and an accountant to help me set things up but the 2 I have talked to so far are not as versed in real estate as I would like.

Dave