if you have an LLC and both properties are under it, you just need 1 operating account.If both are under your personal, 1 bank account specifically for the rental is enough for operating.Security Deposits should always be a separate account altogether.

If you have an LLC, the accounts should be business accounts in the name of the LLC.

Do you know if there is a service, monthly or annual fee for opening one of these accounts? 

Cash on cash describes how much cash a rental property is putting in your pocket on an annual basis divided by the cash you took out of your pocket to buy it. 

Today, that building generates enough passive income to cover his annual retirement contributions.You mentioned taking the 10% penalty, which I’d only recommend as a last resort.

Get a new accountant.

Where did you take into account the landlord paid utilities?

A great deal of accountants work with out of state clients.

That’s correct, a foreigner can buy property through a Mexican corporation, which is a great option for those investing in multiple properties or running a rental business.Key Points I'd like to add to your post:Setup Costs: $1,500–$3,000 USD.Ongoing Costs: $1,000–$2,000 USD/year for accounting and tax filings.Benefits: Allows tax deductions for expenses like maintenance, repairs, and management.Best for: Multiple properties or income-generating investments.For a single property for personal use, a fideicomiso is often simpler and more cost-effective due to its lower maintenance requirements and feesUltimately, choosing between a corporation and a fideicomiso comes down to your investment strategy.

Or is it calculated daily and the base rent increases after 10 days when the late fee hits the account?