This protects you from someone coming after your assets by separating them and it gives you the benefit of pass-through taxation.Here is a quick read that lays out the pros and cons of forming an LLC:https://www.biggerpockets.com/blog/real-estate-llc-not-best-option

We found a way to split the deal into 3 separate deals and spread the closing dates out over 60 days.

For bank accounts, I require both personal and business, since most small business peeps don't do a good job of keeping their finances separate. 

I.e if I were to purchase all the materials and build my own inside a separate factory, could I then have a HUD inspector come by to verify/approve if built correctly? 

Message me separately.

With that, technically when you separate or are discharged from active duty you CAN (not saying he will, depends on his home of record and where's he's moving etc) receive a set of orders that state your current duty station to your final location.

We bought it, rented it until value went up, split the lots, and sold them both separately.

My understanding (not an attorney) is that the LLC gives you some liability protection, but unless you completely keep your finances separated from personal, that they can "pierce the corporate veil" anyway. 

We went our separate ways with our partners in 2008, and my wife and I put our gains along with some additional equity into a SFR foreclosure in San Rafael through a 1031 exchange. 

We rehabbed both units to include redoing drywall and insulation, refinishing hardwood floors and adding LTP flooring, adding a new bathroom vanity, replacing some fixtures, andredoing the front deck and adding the back deck for separate access to the back unit.