What study habits or tips are recommended for someone who wants to study for both the GMAT and LSAT, concurrently?

Answer 1

Choose one and do that exclusively.

You will not get the best score possible by studying for two major graduate level entrance tests concurrently.

Answer 2

I wouldn't recommend you try and tackle two large exams at the same time. If you do plan on doing so, compartmentalization will be your best friend.

For me, this would mean having two separate work stations/areas. I would use different notebooks, and I would take my notes separately. Additionally you may find small things like changing the colors of your notes might help you separate your studying.