How do I save the Lite version of the app to the Windows Store?

I am planning a classic marketing model for my app: a full featured, paid app and a smaller Lite version with cut functionality.

Of course, the Lite version will contain a fairly large codebase with the full version - along with some flavors. In addition, all modifications and fixes for the full version in the areas available for the Lite version must also be updated in that version. The question arises: how to support both versions of the application at once?

Of course, manually copying / editing files is out of the question.

My current, best (so far) idea:

• Create an additional project (I'll need to create a new app package anyway)
• Linking files to the original project
• Set compilation constant "Lite" in the lite version
• Use conditional compilation to strip off some features.

This does not apply to XAML files, however, as they do not support conditional compilation (and I am using VS Express, so I cannot install any extensions). So for XAML files, the idea is this:

5. Derive all ViewModels from one base class
6. Publish a property called "LiteVisibility" with a value managed by conditional compilation (Visible vs Collapsed)
7. Bind parts of XAML that should not be available in the Lite version for this property.

Another option is to create completely different XAML files for the light version, but I would like to avoid this option.

Is there a better way to solve this problem?