Michigan - Security Deposit Escrow

[Michael McIntosh]

Hello BP! I finally closed on my first rental property in Michigan and have what I think is a fairly basic question. Does a separate bank account need to be setup for each security deposit? Or, can this be deposited into my business banking account I use for all real estate? Finally, does the interest earned go back to the tenant? Thank you all in advance for your help! Good luck out there!