I was told once that you can't bake bread (or other yeast products) while making cheese as the yeast in the air will taint the cheese. Is this true?
Depends on your level of sanitation and cleanliness. I've done both in the same day, as well as making beer, in the same space, scrubbing and sanitizing everything in between. So it's possible, but in general problematic.
I would add that both being very committing activities, making bread AND cheese is very hard to multi task. Even if it seems like a great idea to fill the holes in the schedule of one with the other, realistically you might miss the optimum moment in one task because you're busy with the other. Sure, anything is possible, but is it worth the stress?
I have successfully done both on days that I was feeling really energetic and have not had and cross contamination. It just takes good sanitation practices. However, I have found that no matter how much planning you do to avoid it, there will come a point in the processes at which the cheese and bread need attention a the same time and one will suffer. :o