I do the same. I have seperate saving account for my rentals in ING and I just move the money from the bank it get deposited by the tenant every month. I only spend anything from that account. I also have a seperate credit card to use for any expenses. So I know how it was spent on repair fromthe credit card statement.
I also have to agree with screening the tenant properly. It is very important. I use few tenant screening services to make the decision faster and easier. You can collect that fee from the tenant so you don't have to dig from your pocket.
I know you are confused now but as I said EF is very important and comes first then your investing.
