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Updated about 1 year ago,
Is it OK to use personal checking account to manage rental income?
Hi BP community, I am trying to implement Profit First method, which suggests to open multiple accounts; tax account, operating cost account, profit account etc.
I cannot find a bank that allows opening multiple checking/saving account with no monthly fee and no minimum requirements.
I found Capital One has such account options, at least or personal banking. Not sure if they have similar options for LLC.
What do you think about using personal back accounts to manage rental portfolio? Is it a bad idea?