As far as active surveillance like through a live feed from multiple cameras, some people are just really paranoid and I think in most cases like that, as Bill said most people are just trying to protect their property.

I have a ton of drive and passion for RE but not a lot of experience or guidance so I am looking to learn about contracts to protect myself from being burned again.

We have asked for this to be updated to protect us.When we put the offer in we asked (outside the offer) to provide a years worth of financials as well as fixing the disclosure sheet.

I do realize that a LLC inherently protects myself personally but am I opening myself up to this property by having it in my name?

For reference my residential lease is 7 pages, and has always protected me. 

That's how you get protected. 

My concern is how do I have the personal protection of an LLC if I essentially cannot get conventional financing or transfer the title after the purchase?

Best way to protect yourself is simply to buy cashflowing real estate. 

@Andrew Schrader Personally I would just buy one or maybe two and leave them in the house permanently to protect my investment.

A lot of investors can create passive income by being out-of-state although it does require more networking and thorough vetting of the team you work with.Getting yourself connected to a local realtor who is familiar with the investing market will then hopefully allow you to connect to boots-on-the-ground teams and property management companies who can protect your asset(s) and your interest.Right now, the mid-west markets are doing really well - you can stretch your dollar further as property is typically cheaper but still allows you to hit a great ROI with the right homes in the right areas (this is where your connections come in).Social media, like Facebook, BP, and Instagram will give you insight in narrowing down what markets may interest you most - some of these can be hard to get into so utilizing social media to your advantage to grab off-market properties in appreciating neighborhoods will be key.Best of luck to you!