Inheritance, Property LTD Co. No or yes?

MrAA

Hi,
Some advice would be greatly appreciated.

My family & I are discussing estate planning between my Sibling & I.
We have a fair piece of property that could be split up into two independent premises There is a HOUSE & a commercial premise. There is potential to modernize & we potentially have some capacity to put that modernization in Train.

THE question, is there a real need to complicate things too much?
Under the parameters of inheritance, the limit for a child is €335,000 times two children (€670,000) This would suggest that we would be relatively safe from CGT on sale

From what I understand the HOUSE could be modernized incorporate 2 flats a flat each make the flats our main residence then subsequently leases 1 room out each & avail of rent a room relief.

Then the commercial building an idea could be to lease the premise trough a newly formed company by my sibling & I, then sublet the premises to a third party.

THE main thing I believe to avoid is the incorporation of the buildings into a LTD Co. YES?

Or lease the commercial building to a third party, the rent would be split & the tax rate would be calculated given our salaries, YES?

ANY tips, I thank you for viewing.