In essence, this would allow creditors to "pierce the veil" and seek recourse beyond business assets to owners' personal assets.The creditors may be able to establish that the organization is merely an alter ego of the owners.This may be demonstrated by making personal purchases with business assets.Making personal purchases from business accounts such as education expenses or daycare.Receiving deposits to owners SSN instead of the business EIN.Lack of documentation such as 1099-NEC's for amounts paid to contractors by entity.Thinly capitalized organizations.Lack of formal proceedings for some types, such as minutes from meetings or officer selection if a corporation.Personally guaranteeing otherwise nonrecourse loans.Paying personal and business expenses from one account.State laws are generally the relevant guidance in establishing the condition that allow for a disregarding of the division between business and personal assets, much of which can be gleaned from case law.In essence, avoid the commingling of funds.

Plus piercing that veil in many cases is so easy that the LLC provides barely if any protection."

Any competent attorney that is dead set on getting to your personal assets can pierce the vail of the LLC and get to your personal assets.

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).

Remember every LLC should have a separate bank account and operate as a separate company, if you do not manage it in that function it will be pierced like a balloon with an attorney as you did not treat them as separate entities. 

I am up near Fort Pierce and Vero Beach.

Maybe my property could be a good candidate for mobile home park if I’m not able to get this sorted with the township and seller. https://www.zillow.com/homedetails/0-E-Pierce-Rd-Hesperia-MI...The link above is my property, I would love to get your help on this.

If I do a cash out refinance (titled in my LLC), how do I use the money for personal expenses without risk of piercing the corporate veil? 

Some will claim asset protection but if the mortgage is in your name or you self manage the asset then piercing it is as easy as piercing your ear. 

If one of the reasons you formed a LLC was to eeliminate personal liability i would vote to keep it under the LLC thereby not allowing a sharp lawyer in the future to use that linkage to pierce the corporate vail.maybe i'm just paranoid , your lawyer would probably be the guy to ask.