It can just be held in a savings account, no special account needed, but I always keep mine in an account separate from anything else.

I wonder why he cancelled his account?

https://www.propertyguides.com/spain/news/british-investors-...Great place to visit, great place to live, great place to holiday.  

deposited in a demand deposit account?  

Most likely your conclusion is correct, but the only way to confirm it is by having a real estate accountant review your tax situation.Also, please read this introduction if you want to better understand the concept:https://www.biggerpockets.com/forums/51/topics/1075919-five-...

There is no stock account that gives the leverage real estate does, at as low interest rate real estate does, at as low risk/ volatility real estate does. 

With a larger organization like iintoo you'll likely be talking to an account manager that has been assigned to working with you.

Beyond real estate investing, BiggerPockets Money has great episodes on how to avoid the middle class trap with your investments - ie how to structure your investment best so that they're not all locked up in accounts with penalties until you're 65. 

Accountant – Preferably a CPA. 

Do you also create a virtual account for those?