It separates your personal assets from your business, providing a safeguard if any legal issues arise related to tenants or the property.

I have two phones, one for business and one for personal.

So it's just personal preference and budget for a host.

The flippers we personally work with in California have not run into this issue (as far as I'm aware).

I personally like the buy-and-hold strategy and we help clients who share this long-term, wealth building mindset. 

I financed the acquisition of the land with personal and private money.

We're based in Tampa and, in addition to personally investing, I own a mortgage company that provides financing for tons of investors.

Your personal loan has a 5 year balloon period.  

@Jason Weidmannit's only solid if:1) you pick a market that you can go to in person and build a team first, and 2) you recognize that RE is a long-term investment, and you may have to wait 5-10 years, or longer, before seeing ANY return. 

I tried a big out of state flip due to living in a HCOL area and it failed miserably because I couldn't keep eyes on it and didn't have a good/honest team in place.