Wisdom of using LLC(S) to buy/sell real estate

[Allan Conway]

Formed a LLC with a partner to buy and rehab a property primarily for the liability protection its supposed to offer. Have found it impossible to borrow money (history less than 2 years), difficult to insure, can't homestead for lower taxes (I don't have a permanent residence so was going to claim it until sold), and 1031 lifetime exchanges difficult to impossible if a partnership. Also many say the liability protection offered isn't all its made out to be. Is this what professional investors are doing? I know land trusts are another option that could be used alone or in conjunction with a LLC. A trust within a LLC gives you direct control of the trust where without it you need a trusted party to control the trust. On the surface putting a trust within a LLC seems like the ultimate in control with protection but I'm sure I understand this less than I think I do. Any wisdom out there?