The methods of separating the owner from their funds grows... and the industry will continue to adapt. 

The main differences I can spot are the fact you will have 5 separate tax parcels/ID’s to pay and you will finance the property using a blanket mortgage.

If you get a loan application like that and they tell you your interest rate or leverage will be based on the answers expect the loan administration to also be robotic which is often adverse to your objective as a borrower. 

I'd want it to be able to generate P&Ls and Balance sheets for separate properties, and be able to accommodate multiple LLCs on one login. 

I'll try to post it separately because I can't remember if specific company names are prohibited on this site.

Once you start co-mingling the LLC's business with anything else you give an easy and clear reason for anyone suing you to claim the LLC isn't acting like a separate entity and "pierce the corporate veil" meaning that they could use that as a way to come after your personal assets as well.

We keep the main house separate by locking the door between the bedroom and our living area, so guests only have access to their room.

LLC-A can do a consolidation exchange and purchase a tic% of the new property with all of it's sales.LLC-B can do a simple exchange from it's sale to a tic% of the new property.You can separate by address if you want. 

Another cheaper option would be to just separate the meter and have the two tenants pay for their own electric.

The interesting this is, I told the agent that I have gone to properties with a separate garage that required me to pay (just recently in Nashville) and they said that is against their policy.