Bank Accounts / Cash Flow / CC - best operational structure flow of funds

[Emily Poerio]

Hello - 

I am new to REI and getting ready to close on my first set of properties. I have a structure that is a Master LLC and subentities that will be used if either STR or LTR. I currently have 1 Business Bank Account that is for Master LLC and stuck on best way to manage cash flow and flow of funds between account for all master expenses related to my business setup vs and also expenses/ rent related to the properties to ensure that I keep things clean, simple and easy for reporting, taxes. Do you recommend an operating business account in which I collect rent from and pay expenses if either STR or LTR entity and if master expense (ie. Car, computer,) pay out of master LLC? Also, Credit Card suggestions for best business card for benefits / perks right now?

Thanks in advance for all your insights and advice!  

Emily 

3 Tree Properties LLC

[Alecia Loveless]

@Adam Bartomeo I keep separate checking accounts for each property.

My contractor has one credit card for all of my individually owned buildings (jointly not multiple cards) and one credit card for the building I own in a partnership.

I also have one credit card I use for expenses associated with the properties.

My LLCs have separate reporting and tax filings that then get rolled into my personal taxes.