Property Bookkeeping/Accounting: Need Advice!!

[Noah Horas]

Hey BP, 

I'm a newer investor trying to make sense of the accounting/bookkeeping side of the real estate investing world. Getting into buying more properties I need some advice on how to organize and build out bank accounts etc. etc.

1. For every property you own you should be opening up separate checking and savings accounts for the ease of book keeping and accounting, correct?

2. With the separate bank accounts for every property, should the cash flow that I make every month be deposited into the respective checking account or into my personal checking account?

3. If the cash flow generated should be deposited into that specific property's checking account, how would I access it to use it for other ventures or personal expenses?

4. What do you do with security deposits and repairs/maintenance/CapEx that you are subtracting from the total monthly cashflow for future expenses

I know it's a decent amount of questions but I would love for someone to guide me through this process as it's all seeming a little confusing to me at the moment. 

Thanks in advance to anyone who takes the time to respond and help me out here!

[Moshe Friedman]

@Noah Horas I don't understand why you need all these bank accounts why don't you get a good software like quick books and maybe 2 accounts