Many new investors don’t have accountants, and for those without one, separating accounts can be a simple way to stay disciplined with cash flow.In my opinion, if money is constantly going in and out of just one account without categorization or oversight, it’s easy for things to spiral and hurt your business.

This ensures your books match the timing of your taxable income.It sounds like you're off to a great start—make sure everything is categorized correctly and consult a CPA to confirm your setup.

., replacing old countertops with new ones) before renting out the property can also be categorized as start-up expenses.

I use REI Hub where all my accounts are connected and I categorize income, expenses etc.

My recommendation:  Take all of the people you have met at your networking events, put them into a CRM, and categorize what expertise each person has. 

While you shouldn’t categorize all tenants and it’s the landlords responsibility to properly screen, the tenants who reside in better situated housing and pay higher rents are more financially responsible meaning lower rate of rent loss and will generally take better care of the property which combined will result in less time allocated towards management functions if self-performed or more favorable management fee structures if 3rd party management companies are utilized (which ties back to #1, as well).

I generally categorize my house hack clients into two strategies/considerations.

Tools like Baselane simplifies bookkeeping and tax preparation by categorizing transactions and storing records.Keep personal and business accounts separate to maintain LLC liability protection.Please don't use the same LLC for flips and rentals.

Help with Expense tracking and categorization: You can sync your bank accounts and credit cards to automatically categorize expenses related to your properties.

I am a NJ PM owner and started using Baselane, as well, for its ease of setting up virtual accounts, transaction categorization, and overall organization.