I think people need to live in reality and understand there is NO full-proof method for protection. an LLC does provide a layer of protection proving that it was setup correctly and is run properly to avoid "piercing" issues.

If you do not, then the LLC is a sham and your assets would be exposed potentially by the litigant piercing the corporate veil.  

(How much protection an LLC provides and how easily can its corporate veil be pierced is another similarly interesting question I see from time to time.)As to the 5 year / 20% rule, I believe it would also apply to a transaction that was structured as a lease with option to purchase all in the same document, though I've never had to test this in court yet either.

To avoid "piercing the corporate veil" you'd have to have a lease from you to the LLC and do a bunch of tax paperwork every year.

I live in the Fort Pierce area.

There's a great video by Danielle pierce on YouTube regarding the topic

Lots of improvement and new development in the area, including revamping downtown Ft Pierce, which is about 15 minutes away and a new Buc-cee's gas station coming nearby.

I don't know if this will help anyone since state laws can vary a lot, but I went through a continuing legal education course a few months ago on piercing LLCs, and there was a lot of information and confusion. 

One being Pierce-Eislen.

@Reuben Pierce Welcome to Bigger Pockets!