-PatrickA high yield savings account has a number of advantages.

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

One consideration as you are working on locating private lenders, is that IRA, 401(k), and other retirement accounts can be used in many cases to make private money loans.

Like Jake Baker suggested, keep good records and have a dedicated bank account for your property, properly separating personal and business expenses.

Quote from @Matt McNabb: I'm a solid $400k/yr job in NYC and have $250k to begin investing as my first step into building a portfolio, although I don't have time to be a landlord so I have to account for management fees.  

Monitor the account that all x number of payments went out.

Second to cash in the bank is HELOC cash because you can use it however you want (you just have to see it already in an account).

Accounting & Finance: What tools make bookkeeping and financial tracking seamless?

Simplified ManagementFor those managing multiple properties, AB 2622 streamlines operations by expanding your hiring pool and removing the red tape often associated with minor repairs.Why It Matters for TenantsTenants also benefit from AB 2622:Faster Maintenance: Minor issues like plumbing or lighting can now be resolved promptly.Fairer Move-Out Costs: Affordable repairs mean tenants aren’t hit with inflated charges for damage beyond normal wear and tear.Things to Keep in MindWhile AB 2622 makes maintenance easier, landlords should still vet unlicensed workers carefully, ensure proper insurance coverage, and remember that jobs requiring permits must involve licensed contractors.AB 2622: A Win-Win for California’s Rental MarketAB 2622 strikes a balance between flexibility and accountability, making it easier for landlords to maintain high-quality rentals while fostering better tenant relationships.

It will help a lot if you understand accounting and how the statements are actually generated.