If the LLC is not sufficiently independent and fully established with all the trimmings, a court could potentially "pierce the corporate veil" and hold individual members personally liable, despite Texas´s rather tough rules on the issue of piercing.

This also sounds like a good way to have the corporate veil of the LLC pierced should it come to a challenge.

By mixing funds you open yourself to liability by someone being able to pierce the corporate veil by saying there is no difference between you and your business because they both are using the same funds.However, if you are investing in your own name then a personal account would be best, though it should still be separate than your personal spending account.You didn't ask, but investing in your personal name opens you up for better financing, but more risk due to personal liability, while investing in an LLC or entity has less risk but you are forced to use less attractive commercial financing. 

The bigger issue is piercing your corporate veil which was the whole point of getting the LLC. 

If you don't do all of this, then it would be easy for a plaintiff to Pierce the Corporate Veil and come after you personally.    

Both are accustomed to piercing the corporate veil and stated that without setting each up properly and then running them properly, you will get screwed by any competent attorney and it will be a lot of expense and hassle for nothing.

If a Cost Segregation Study had not been performed on this $3,000,000 RV & Boat Storage Building located in Fort Pierce, Florida that was purchased in 2020, it would have had first year depreciation of approximately $10,225.

If you're going to set up an LLC, make sure someone can't "pierce the corporate veil."

If you hold the financing in your personal name, you can get around this, but then you remove personal-business separation which can "pierce the corporate veil" meaning you can open yourself to liability. 

The tax advisor is half right.If all an investor does is whip a property into an LLC, then an attorney could pierce the corporate veil and go after the investors.On the other hand, if the partners in the LLC have a strong operating agreement, keep minutes and don't mingle personal funds with the LLC's funds, then an attorney or court is going to be hard pressed to go after the partner's assets.The moral of the story, run your real estate investment LLC as professional business.