Handling funds for different rental properties

[Justin Sumulong]

When one owns multiple rental properties, would it be recommended to have multiple checkings/savings accounts for each property or can more than one property be handled in one set of checking/savings accounts?

I understand different states may have different laws/regulations for this. In my situation, I live in Illinois but invest out of state. I am just looking for any general advice, pros/cons, thoughts, etc.

[Dawn Anastasi]

Where I am, Milwaukee, you can have multiple properties in the same account.  If you hold the properties in different legal entities, it would be best to have separate checking accounts.  One checking account per property would get outrageous depending on how you plan to grow.