I'm wondering if for future deals, a subsidiary PropCo could be created for each property, keeping one OpCo in place.

I used Proper Insurance, which is a subsidiary of Lloyd's of London and specializes in this kind of coverage.

Pace Morby and others recommend a holding company in an anonymous LLC state, with a subsidiary LLC in the state that the property is in.

A better question might be... how do you ensure that the assets of each subsidiary (or the whole) is not susceptible to liabilities arising out of each subsidiary's operating activities.

The eviction could get tossed.You can have a subsidiary LLC of the parent LLC hold property in other states, but it definitely gets tricky.

I would have subsidiaries that hold each property.This being a family business would be excluded provided most of your effort is spent doing that.If the business is incorporated (e.g., C corporation, S corporation, LLC), the "significant services" requirement does not generally apply.

Small business holding company: This type of fund is exempt from the 1940 Act if most of its assets comprise controlled or majority-owned subsidiaries – the idea being that the fund is in whatever business its subsidiaries are in, rather than in the securities investment business.

There is one thing in particular that isn't talked about very much: The out of state Parent LLC that owns the subsidiary LLC doing the actual business. 

If your plan is to elect for the LLC to be taxed as a corporation, then you will have no disconnect between the tax treatment in both countries ... and if this LLC is a 100% child subsidiary of a Canadian corporation, you will be able to repatriate retained earnings to the parent corporation with little to no taxation from the CRA.You, and your partner, should spend a little money and sit down with a {Canadian} accountant, and possibly an attorney, experienced in cross-boarder business and determine the best ownership stricture to meet your current and anticipated needs ... before you start shopping.

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