My experience is that most corporate borrowing carries a personal gurantee rider along with the loan. In residential real estate, buildings of one to four units, the owner will move title in and out of the LLC just as they would a living trust to arrange or refinanace loans. Lenders lend against the "persons" ability to repay in residentail real estate. In investment residentail properties, 5 units and up, the lender lends based on the buildings abilaity to generate the repayment, not the borrowere's ability.
Seriously though, you should be asking an attorney for advice not realtors.
Sure you can hold a deed in an LLC. In fact, you should. (Check with a lawyer for details.) As John says, it's generally not a problem so long as you are willing to personally guarantee the loan. If a lender isn't willing to go that route, you can purchase the property in your name. Then once the deal is closed, you transfer the deed to the LLC. In either case, you're still responsible for the mortgage but the deed is in your LLC.
By the way, Gregory is referring to another way to invest--through self-directed IRAs. Certain federal laws require that investments made by IRAs be non-recourse. That is, if you default, the lender can't come after your other assets. As a practical matter, that means you often have to buy with all cash, so that there's no possibility of default and thus eliminate the recourse element. However, there's even an exception to that. Some self-directed IRA firms have come up with a dual structure of an LLC and an IRA, so that there can be multiple investors through multiple LLCs purchasing a single property. But that's a story (or an answer) for another day).
And I digress.
The simple answer to your question is that it's not only possible but wise (in almost all cases) to hold real estate investments in an LLC. Check with your lawyer and accountant for more details.
Hope that helps.
My experience is different. Many LLC these days are used as a result of setting up a self-directed IRA for the purchase of real estate (and other investments). There are lenders who will lend to LLCs but they are few and typically requires 50% loan to value (50% down). I have a local referral for a lender that can handle this type of requirement.
If you are jumping into real estate investment, I would suggest connecting with the SJREI group. They offer a ton of great info and resources. http://sjrei.net
best of luck to you....