I have also created a single member LLC (disregarded entity) to manage the assets that are held in the Series LLC. 

Before you know it, you have airBNB running around trying to rent properties it doesnt own and without obtaining consent of actual owner in some cases, with utter disregard for local ordinances, generating hotel like traffic and noise in a neighborhood which often isn't what they had signed up for.

duplicate post - please disregard

They are disregarded for tax purposes, meaning they don't exist.

If you commingle the funds from entities in any way, you jeopardize their legal separateness, which could potentially lead a court to disregard the LLCs and make all the assets attachable.  

There are HML that specialize in fix-n-flips, where getting a great deal on purchase price relative to appraisal is actually a basic requirement.On our end (this is directed at the lurkers), for good interest rate 30YF & low points type loans backed by the government in some form or another, Robert is 100% correct.In six months when/if you wish to refinance, future-current appraised value will be used, and purchase price from 6+ months ago will be disregarded as a data-point, meaning appraisal will be the only basis of LTV.

whoops. disregard. will post in correct section of forums

The family trust should be a disregarded entity here and 121 still applies.  

With that said, I have read some posts/threads where asset protection is considered, but many just disregard it.  

@Keong Kam, I'm curious if your accountant detailed why they wouldn't want you to form a Domestic LLC in MO and disregard registration (whether foreign or domestic) in CA.