Definitely use separate accounts, whether you have an LLC or not.Checking: receive rent, pay billsSavings: hold deposit and reserves for capex, maintenance, taxes, insurance, etc.When your checking account has more money than is necessary to pay bills, transfer the excess to the Savings account where you can build funds for a new investment.

Any defects in the tax suit are between the prior taxpayer and the foreclosing tax authority. 

The author gives a ton of great nuggets of how to do what I'm talking about.Good luck!

Hi BP:I am creating a landing page both for people looking to rent from us but also from potential deal leads. Not very sophisticated on this so here's what I am thinking...1. Manage content through wordpress. I am op...

The authority is in the paper work.

Much more highly regulated.Start by logging onto the RTA and LTB web sites to learn about tenant/landlord rights.

Not excessively. 

Carefully understand the rules of your local housing authority.  

Do we leave that excess in the account after paying the mortgage?

It appears to me that you are being excessively conservative in your time periods per capital expense.