Buying second park in same location. Do I combine with existing LLC or form new one?

We are buying a park across the street from one we already own. Should I purchase the second park with my existing LLC? My thought is to keep the books and records separate so I can have a better view of how each park performs financially, but should the same LLC hold both real estate assets, which may be a poor idea for legal and insurance reasons.

Please let me know your thoughts.

Always keep your holdings separate. The additional expense is minimal when compared to the risk of shared liability. Many operators are able to hold different communities in different LLCs and still hold a single insurance policy, so that shouldn’t be an issue.

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