Anyone have their infant and toddler share a room? How do you manage the different sleep cycles?

When my baby no.2 was born, he slept with us and my daugther. When baby cries, I just take the baby out from the room to soothe him first, e.g. check on his diapers. During the initial months, I feel exhausted to handle 2 at night (sometimes my elder one will wake up after disturbed from the baby's cries). When my no.2 is much older (after 3 months old), he woke up less and I breastfed him during the night so it is quite easy to handle a toddler and a baby in the same room. On the different sleep cycles, normally I will let my elder daugther to sleep first as she wakes up very early in the morning. After that I will tuck in my baby no.2. After certain period, both sleep cycles will be around the same when they grow older.