Just closed on my first property! Now what??

[Asif Ahmed]

Hey everyone! 

I just closed on my first property literally today. Super excited but now I'm a little confused. I want to make sure I get all the tax benefits from the property, so I want to make sure I track my expenses. I'll be driving up there a few times to let handymen, plumbers and electricians into the house, and I'll be buying a new washer/dryer unit as well. How do I pay for this work? Do I need to create a business checking account? Do I need to open a new credit card to charge these expenses? Should I already be talking to a bookkeeper or a tax accountant or start using Quickbooks? I own the property in my own name, with a loan, but I don't have any other financial stuff set up yet. I created a new checking account with the credit union that gave me the loan, is it sufficient to just fund and charge everything from that account? 

What are the key things I need to do next to set myself up for buying additional properties as well? 

[Asif Ahmed]

@Chris Davidson thanks for the reply! I think you're right, I'm going to just stick with the account with the credit union, which is also a personal account. But how about paying for all my various expenses? Should I be using a credit card or debit card for that? Do I need to open one just for real estate expenses? I've heard some people open a new account for every property they own, but that sounds crazy even after just owning 5 or 6. What would you recommend?