It makes sense to go that route.

If you still want to go that route talk to an attorney.

Despite the money, has anyone found genuine success with this route? 

Can’t find a competitive rate for Travelers so are forced to go this route.1) It's possible, but with adequate liability Insurance AND an umbrella policy, you should be ok.

In the case of these two people, they also have great credit and can easily get a mortgage on a home as well.So I was wondering if it would be possible to go the route of getting an LLC/Operating agreement set up, having a partner purchase a home with a mortgage, and quitclaim deed it into the LLC? 

That being said it costs you nothing more or less to have it at the ready ... especially since all docs for the purchase need to be in the same name... the offer, the earnest money deposit check, the contract, &c.If going a different route, the purpose  of a legal entity is often for protection of other assets or for taxation issues.Take your pick among all; but first decide your course.Much success.Bob

I've also noticed that if I go this route, the properties cash flow might be an issue. 

We went the mini split route as it was cheaper than adding ducts going up.

I actually prefer the home inspector route if you are getting laid off.

Is it still worth looking into this company with them not knowing the politics in the area or go a different route?