Buy and hold with Solo401k

[Leslie Griffith]

Hi All, I just opened my Solo 401(k) - thanks to Mark Nolan and mysolo401k. 

I have identified a property, and have a few questions with regards to the best way to go forward.

1) The property will be a buy and hold. Is it recommended to set up an LLC owned by the 401(k)? If LLC is recommended, what is the process for setting up the LLC to allow for the purchase of the property? Should the LLC be a property management business?

2) How do I insure the property? I expect that the property has to be ensured under it's own account and cannot be listed under my personal residence policy. Can anyone recommend an insurance company that helps insure properties purchased with solo 401(k)s?

Thanks in advance for your advice and your patience in dealing with the simple questions of a newbie. 

Leslie