Cash flow on a rental property

[Justin Cox]

Hi everyone. I have a questions about cash flow of rental properties. So I’ve been reading about all of the expenses I should be taking out of the rent I receive to determine my pure cash flow. Mortgage, taxes, insurance, vacancies, repairs, capital expenditures, etc… 

But where do you put the money for all these expenses? Just curious what everyone is doing. Do you put each expense in an envelope? Do you lump it all together in a bank account? I’m just wondering how you keep each expense separate from one another and how you stay organized. Thanks for the help in advance!