It's easier to break these up into two sectors to help simplify the breakdown process. 

It's that easy.Setting up an LLC does nothing to simplify payments, or your life.

This will simplify later management and development if that becomes a possibility.I would also then recommend a 3rd LLC that is a management entity for the property. 

I am definitely an over thinker at times and it gets hard to simplify.

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If the software is not simplifying your life or making you more accurate, you shouldn't use it.

If just going this path is more practical it would simplify things significantly, but everything I understand says introducing these new activities and the respective liability could expose our other property to risk if a nuclear claim occurred related to either property if they were part of the same LLC. 

Either way we, in the simplified model, expect interest rates to lead to stagnant or falling prices.

This can also simplify cleaning schedules.

This structure also provides an added layer of protection for your personal assets in case something happens with the property or other business liabilities.Estate Planning: By having the property under your LLC, it can simplify the process for your heirs and ensure that your real estate assets are managed in line with your wishes.