My understanding is that the LLC can easily be pierced anyway so that is why I opted for Umbrella Insurance.  

@Heather Skow it’s less a matter whether you should form a LLC, but understanding whether you can operate the LLC without having your veil easily pierced.

Pierce, St.

Too risky for banks and I think that has to do with piercing the corporate veil, difficulty with creditors getting charging orders and/or foreclosing on a member(s) interest as states laws allow.

Of course, there are appeal mechanisms to whatever the ruling.A land trust as an entity may end up being pierced just like an LLC or corporation when there is a lawsuit involving a fraudulent transaction involving ownership.Again, I am not an attorney, and am not offering legal advice, but I have successfully used land trusts, llc's and other title-holding entities over the years. 

The area where I live is to expensive so I've been looking in Pierce County (Puyullup).

Will depend on several factors like the type of property, type of tenants, your risk tolerance, other assets you own, your estate planning, laws where the property is located, etc.Any lawsuits would be limited to the assets of the LLC and not your personal assets (assuming you run the LLC appropriately and the corporate veil is not pierced).

People debate whether someone else can simply "pierce the veil" of these entities.I was wondering if anyone out there that has actually been sued.

LLC's are easily pierced if the owner co-mingles funds and does not keep diligent records.

Hey I have a property under contract near Fort Pierce if you are interested.