You may commingle account with a management company but you will have to be extra careful with your book keeping.

My wife and I own a Business Coaching & Bookkeeping Business and a Candle Business that focuses on more natural scents using products that offer a clean burn. 

I would hire a bookkeeper, and possibly change that part-time handyman into a full-time one.

My wife is a bookkeeper for the last 6 months and have been doing taxes full time, on and off over 5 years but was not making as much. 

When your bookkeeping is automated, you should be able to generate financial statements at the click of the button.Check with your accountant about a customized chart of accounts in quickbooks as well as coaching for basic data entry and acquisition of properties.

But every account will likely incur fees, so don't use any more than you absolutely have to.Your bookkeeping scheme is just as important as your bank accounts.

In all honesty I would hold off till you close and then open the account and run your bookkeeping through that account since that is your business (LLC) account. 

On my JVs, although its not for a rehab deal, but for construction, I define net profit first, all income less all expenses, then profit split, dedicated joint checking account on both companies, monitored by a third party bookkeeper reviewed by cpa, little expensive and unnecessary expense but keeps the lawsuit away.

Payroll, bookkeeping, etc can mostly be done remotely.Here is a great list of questions to ask a potential accountant:http://www.biggerpockets.com/forums/51/topics/70447-questions-to-ask-a-cpaAlso check out the www.NAEA.org page in your search.

Next, when it comes to accounting and book keeping I have a similar question to the one above!