If you want the value villa, you need to book that as soon as possible or it might also be gone. Those go very quickly.
If you split your stay, you will have to check out and check into a different villa several hours later. Check out is 11 and check in is after 4PM. Do you really want to be homeless that long?
The odds of getting a multiple night waitlist are not good. Plus, if by good fortune, the waitlist comes through, are you prepared to pay the owner more for the reservation? Concierge villas require more points.