Small landlord (5 units) needs guidance choosing a new bank

[Matt Herbert]

I think it's time for me to choose a new bank. This brings a flurry of questions to my mind: which one? how to structure the accounts? commercial vs personal?

Here is my current situation. I have 5 single family rental properties. For each property I have a savings account, where all money for that property goes into and out of. I also have a single checking account that is used for paying bills (money is transferred from the individual savings accounts to cover expenses). This has worked fine for me, and allowed me to easily manage each properties expenses, and understand how much I have in reserves for each.

This is all under my personal name, and not in commercial accounts. All of these accounts are used exclusively for business - I do not intermix personal transactions at all. (I know that doesn't mean much, but when I finally setup my LLC's, it will make the transition easier).

I'm wondering how other smaller property owners are managing their accounts?

I'm also wondering what the benefits (or drawbacks) are of moving to a commercial account?

And lastly I'm wondering if anybody has recently done research on all the various banks out there, and can offer a short list with some pros and cons?

I'd like a bank with no fee's. On that lets me open as many accounts as I want. It must pay at least 2% interest in an MM or Savings account (I want my money to work for me). I don't need a local bank ... in fact I prefer an online bank (all my rent is collected through cozy). 

I've considered redneck bank, but I won't get their awesome 3% interest on the checking account unless I do 10 debit card transactions a month (and no way will I do that). And they have a $5,000 daily EFT limit (I occasionally need to do more than that).

I've also considered Ally, and they are are a strong contender right now ... but I feel like I could be doing a little better.

I briefly considered Capital One 360, but there savings is only 1%. And while their Money Market is 2%, it's only for balances over $10k (which I don't always have).