<re-insert disclaimer here>Asset Protection:Once the property is in the LLC, you have to make sure that funds flow correctly in and out of the LLC's bank account to ensure the veil of the LLC is not pierced.

Comingling your personal money in your LLC can pierce the corporate vial as you and the LLC become one cook sharing in the stew, and the stew may not be divided any longer, it can be mostly all from either entity regardless of the contributions added.

So- that theoretically could pierce your corporate veil and create liability for you and your partner. 

I just want to make sure i don't accrue any unnecessary taxes or pierce my corporate veil.

There are many actions you can do to pierce it. 

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).

It's run by a really good group of guys- @John Rubino, @Justin Pierce, and @Roger Lin.  

The idea is that it creates a layer of separation so that in the case that you get sued or go into foreclosure, your personal assets are protected as long as the cooperate veil of the LLC cannot be pierced.

For complete asset protection, its best that your domestic asset protection plan be accompanied by a foreign component set up in a jurisdiction out of the U.S.Any asset protection system based fully within the U.S. will always run the risk that a U.S. judge or court determines that the plan should be pierced or invalidated.

Single member LLCs can be "pierced" and an umbrella liability policy can offer more protection than LLCs.