There are always warning signs, but an investor shouldn't be so blinded by ROI's to not be able to see those signs.

Once you purchase a property personally, typically, there is due on sale clause on your contract (since you are selling it to your LLC), and it will make you pay for the whole amount before you sell it, the bank may not say anything and play blind, but when things go sour, they will tell you, on paper you are in breach and you owe them the amount, so it doesn't really offer ANY protection.

Blind leading the blind.

Having money as a tool for someone starting can be very risky as it can blind people.  

I try to never buy houses without inspection reports ( unless if the deal was so good I could buy it blind )Have more than one exit strategy on a deal. 

Cheap blinds. 

I don't want this venture to be like a blind man walking through a maze.

However, these issues seem to be appropriate checks and balances as opposed to turning a blind eye to some major issues. 

This could be a great opportunity, but don't get blinded by the purchase price.  

This way you are not sending a blind low ball offer.