Rental bank accounts?

[Kayla Bassett]

Hey folks,

I am full speed ahead to close on my first duplex in mid-January. Will be utilizing this as a house hack. 

I need to get my banking situated for property expenses and am looking for suggestions on the best way to do this - here are some options I am considering:

1. open separate checking accounts for security deposits, ongoing balances, and a credit card for property in my personal bank account - automatic payments (rent, utilities, mortgage payment) to/from checking accounts. CC to be used exclusively for property.

2. open separate checking accounts for deposits and ongoing balances in personal bank account. auto payments (rent, utilities, mortgage payment) and deposits to/from checking account. open rewards credit card (ie. southwest) to be used exclusively for this property. ( will have about 6k in upfront furnishing and upgrades costs). 

3. one of the above options but CC pays all bills (rent, utilities, mortgage payment .. not to ever carry a balance) and checking account receives all deposits.

4. one of the above held within a bank account separate from my personal funds. 

Hopefully my question makes sense. I know personal finance is personal, but definitely looking for some insight as to what has worked best, and what doesn't work so well.

Thank you for your input!