I would if I solely think like a hard money lender and focus on the upcoming project as collateral and see the potential with that one.

@Michael Baradell none of the measures taken in isolation are worth anything.

This isolates the property and its liability within that LLC entity.Retirement accounts provide protection in the other direction.  

It can help to isolate your other properties or investments from being brought into the suit; but, that is only if you follow all the strict "arms length rules, IRS rules, state, and local rules, and on and on.  2nd a standard LLC does not provide anonymity.  

He has a suggested business entity structure which provides very good isolation of your personal possessions and the rest of your estate from your REI holdings.The idea of holdings is for long term holds to be in LLCs.

Not as a legal opinion or legal advice, but in my own case, I use a separate LLC for each property I buy and try to isolate any potential liability - such a slip and fall or whatever, even with liability insurance as limits can be exceeded in a bad case - from the others properties. 

A very prominent asset protection attorney in CA, Clint Coons, has several youtube videos out that show one can create several LLC's here in California if there are multiple properties, but in order to save the $800 annual filing for each properyt, one could have them owned by a WY or DE LLC (no fee;s) and then just have ONE California Managing LLC that reports the income (either as S corp or flow through to personal 1040).This would save thousands per year for people who own many high net properties and allow them to isolate them in individual LLC's without the expensive burden on $800 each.

It’s nice to isolate one property and look at it over time but it could either be cheap or expensive compared to surrounding areas.

I might refer to it but IMO, in isolation, it is a meaningless metric unless you're purchasing dozens of properties in a sub-market. 

@David Jesse Personally if the seller agreed to completely repair isolated termite infested area with licensed, bonded and insured pest control company prior to closing, I would still do the deal.If repaired properly, especially with cinder block style home, termites alone would not stop me.Yes you would want to disclose the termites on the seller disclosure once you go to sell, but have paid invoices on hand from when repairs were completed by current seller and encourage buyers to have their own home inspection completed and you should be just fine.