Many require that you keep funds separate from personal funds.

@Jason Lopez You don’t need an LLC to rent out a house in San Antonio, TX, but it can provide liability protection by separating your personal assets from your rental property.

Or are there other methods you’d recommend that could align better with my goals?

I was sent an offering memo by a broker selling a multi-family building in an area no reasonable person would even consider affordable housing material yet the marketing materials made a point of emphasis to detail how the property would satisfy the need for affordable housing.

I heard that if you move the personal mortgages to an LLC they could get called and we would want to avoid that3.

NOTE: an aggressive attorney can still track you down.LEGAL PROTECTION: By placing your assets in an LLC, you legally separate them from your personal assets.

I'm now finally here in person, and have started to go view places in person with the intent of purchasing. 

I'm looking to identify a builder with the following characteristics:1) Eager to grow his/her company and reputation in the market2) Has produced at least five high quality builds in Arizona which are at least 4K sq ft  3) Has proven track record of completing builds in a timely manner4) Personal capital to allocate to projects (optional, but ideal)Please reach out to me if you or someone you know might fit these criteria. are you set that you want luxury?

"owned outright"- do the members have personal debt to support this, or is it both zero for personal and for the business?

Personally I am thinking 1c.