Looking for Alleviation in opening up a Business Account

[Jose Fernandez]

Just purchased my first 2 rentals. I go to Chase bank to open a business account. The bank says "You need a business account and to open one of those, you need to register your business with the state." So, I do that. The only choices I see are LLC or INC. There is also Fictitious Name Registration. So I go with LLC. Since I'm the only one, I place my name as CEO & CFO. Three weeks later, I have my paperwork. I go to the bank and they say "You can not open a business account with your name as 2 positions as an LLC. Also, the positions must be MGR as our system will not recognize CFO or CEO." Meanwhile, I've had 2 rental checks burning a hole in my pocket since March 11th and I told the other two to hold on to theirs because I have nowhere to legally deposit them. Today, I received a $94 dollar fine for not having a Labor Law poster. So, I have a couple of questions:

1) Do I actually need a "business account" or can I just open up another personal account and just use it for business?

2) How can I register a business name without having to use LLC or INC?

3) Any thoughts as to why I received the $94 fine (Labor Law Compliance)? I may have listed the LLC as "Real Estate." What should it be to not have to display a Labor Law poster? If I have zero employees, why would I need a Labor Law Poster?

4) I have another business (fitness related) that has nothing to do with real estate. It's more of a hobby than a business. Can I just use that business account for my rentals?

5) Are there any podcasts on this site that directly speak to the protocols for setting up the business so that rent collection/deposits can happen? 

Thanks everyone....I am barely keeping my head above water with this aspect of renting.

[Nathan Gesner]

Try different banks. There are millions of Landlords around the country that are not registered as a business.