If you ever get sued and the lawyers try to come after you they will try to do what they call piercing the corporate veil.

@John Pierce  Thank you so much, you also recommend arch type instead of 3 tab, interesting. 

Pierce it just depends on what you're willing to tolerate.

(in no particular order but @Ben Leybovich should probably be first LOL)@Dino Pierce @Taylor L.

If you co-mingle funds, it can be argued that the LLC and you personally are the same, thus piercing the corporate veil.  

Will depend on several factors like the type of property, type of tenants, your risk tolerance, other assets you own, your estate planning, laws where the property is located, etc.Any lawsuits would be limited to the assets of the LLC and not your personal assets (assuming you run the LLC appropriately and the corporate veil is not pierced).

@Annie Witkamp I agree with @Justin Pierce that the market is very hot.

So I feel like tons of LLC's could have the corporate veil pierced fairly easily.  

Dave Pierce - that's a great point. 

What is the best local investor friendly title company? I’m trying to close my first deal and I don’t know anything about this stuff. What is the best one for me to go to and why?