LLC vs. Umbrella Policy

[Deshawn Lewis]

Hello, 

I'm a new investor and just finished the rehab of my property in Philly, PA. I'm working towards the refi and want to make sure my personal assets are protected and was thinking of transferring the property to an LLC. However, it seems that in Philly there isn't a way to avoid the transfer tax of 3 -4%.

I'm debating if its worth transferring the property to the LLC and paying the transfer tax or keeping it under my personal and taking out an umbrella policy. The other wrinkle is that I am considering purchasing a property for my personal residence soon so also want to keep my personal credit clean (not fully sure how the LLC would fully protect me here but I've read it is better to put these properties on an LLC for credit purposes as well).

Welcome any insight as I'm a bit torn and appreciate other perspectives from folks that have been threw this or have incremental information. 

-Deshawn