Wisconsin LLC - Holding or Trust for subsidiaries? Mixed businesses

[Wayne Gilroy]

I own two rental properties - a single-family home and a triplex. I currently have no LLC or official business entity. I also claim income/loss/expenses for a small "farming" venture on my personal property that includes - sale of eggs, firewood sales, sawmilling services, renting pasture space, and services such as snow removal and driveway grading.

I'd like to put each rental property in its own LLC or trust. I'd like to put the farming goods and services into its own LLC or trust.

I'm looking for advice on how to structure all of this in terms of LLC or Trust. I've read different things on Biggerpockets and Reddit but am still a little fuzzy on details.

My original thought was to create a holding LLC to contain both rental properties (as separate LLCs) AND use the holding LLC to capture my farming activities. But now I'm not so sure. It sounds like a holding LLC is more for management and not for producing anything (the farm stuff). So now I'm thinking I should create a holding LLC and 3 subsidiary LLCs (rental 1, rental 2, farm).

So, my two questions are:

1. Does a holding LLC make sense for my goals above or should I consider just doing 3 LLCS with no holding LLC?

2. Some posts mention forming 1 LLC (to act like a holding LLC) but to create Trusts for each property/business(farm). It seems like the LLC and Trust are similar in liability protection. Does anyone have experience with Trust vs LLC?

Thanks in advance!