Rental set up LLc vs Personal & Co-Mingling ?

Purchasing second rental condo... Thoughts of owning in personal name (with spouse) with umbrella coverage vs owning them in a LLC (SM or Dual Member matter? I know taxes are a bit more complex as Dual member...)

Also, I have an LLC and own a property free & clear (which I do now) and do a cash out- can I take that cash as a draw for personal use / investing or is would that be co-mingling effectively negating the point of the LLC? or would that cash need to remain in that LLC for investment purposes only within that LLC?

Thanks!