I think this needs to be approached by understanding the project scope and timing. If you want the existing building to serve simply as a background then your current workflow is fine. But not having ownership of the Existing Conditions model elements is problematic. Demolition / New Construction projects can be very extensive so you need to be able to edit the objects.
At my firm we use the typical Revit workflow and do all the work in the same model. Setup plan views for Existing Conditions, Demolition, and New Construction by using Phases. Model the existing building, then demolish items in the New Construction phase.
You stated that you don't often have ownership of the existing building model. Why not? Even if another firm such is modeling the existing building, I wouldn't approach it any other way. We have hired outside firms to do point cloud scanning, which are then converted to an existing bldg. model. Once we receive the EB model, the new design starts moving forward. This is a linear process in terms of timing, but works well and is easily understood by my team members.
If the new design work needs to start prior to receipt of the EB model, I would do some project setup and give the scanning company a base file to work from which has Shared Coordinates established and includes your firms standard template items (families, titleblocks, etc). Then you can work in a new design model in the interim and copy objects back in to the composite model. Refrain from doing a lot of sheet work and annotation until you receive the EB model to make the transfer smoother.
If you want to maintain the setup you have now, you could keep the existing building as a linked model, but you still have to have ownership of it to adjust the 'Phase Demolished' parameter to create your Demo plans. I would be interested to hear how you have been documenting demolition so far without ownership of the model. Can you explain?
Sincerely,
Andy Brack
BIM Manager