Truth is even if you have the right structure you're probably not using it correctly which "pierces the corporate veil" and eliminates the protection. 

One one to pierce your corporate veil is to treat your LLC as an alter-ego. 

Seems overly complicated to me and just gives ammunition to pierce the veil.

I would recommend you speak with an attorney in your jurisdiction to determine what your obligations are so you don't end up piercing the corporate veil. 

Second, a good attorney will also explain to you how to operate the investment through the LLC to ensure you don't commingle funds and pierce your own corporate veil.

I believe that this decreases CA's ability to pierce the corporate veil, primarily from the fact that required paperworks formalizes the entity. 

If you (through your LLC) do something wrong in any number of areas, any newly-minted law-school graduate can pierce the LLC and come after YOU and all of YOUR ASSETS.Advice from a qualified asset protection attorney will be money well spent.

@Elehue Pierce That is what I have heard numerous times, the "deals" were always too slim or non-existent. 

Hiring an unlicensed/uninsured contractor makes for an easy argument of negligence against a rehabber -- that will pierce the corporate veil (i.e., your business won't protect you) and create bad-will from a judge and jury.

Especially land trusts.You may want to serch for "piercing the corporate veil"