Currently the monthly rent is $1200 + utilities.

We want to keep it as separate as possible between the two ventures so there is no confusion or benefit from either company. the only thing in common is us as individuals partnering in other businesses together.

What will be the wisest way to utilize this asset.

No legal access, no water, floodways, hazardous waste, or utilities a hundred miles away are just some of the things that can make the property have little or no value.

First thing I would do is hire a company to do a RUBS system for your utilities and put 80 percent of the water sewer hear back on the tenants.

I have spent months trying to educate myself on the process of managing it myself and looking into the pros and cons of utilizing a property management company.

It's illegal on the part of a disabled veteran, whether you are 10% or 100% disabled,  to utilize property tax exemption for rental properties.

Will definitely utilize the expertise available here.

Another option I have read about, but that I'm not sure is common practice or viable yet, is initially issuing the loan with a personal guarantee, even though the deed would be under the LLC.

So your final decision might be the answer you make on those 2 properties and any decision might be decided on the debt question of good debt versus bad debt.If you have any benefits by purchasing  an apartment complex as a controlled ownership and by benefiting from a Tenants in Common joint venture association that will contribute to an apartment complex purchase and allow your keeping control of that property on a daily basis regardless of your ownership percentage.