Forming LLCs for properties in different states?

[Joe Nguyen]

Hey folks, I'm super new to LLC forming and the whole legalism (pros and cons) of its own. Long story short, right now I don't have an LLC yet but currently have a rental property in Texas and soon will be renting out another one in Virginia. Neither of these is yet under an LLC. I'm curious to hear from a distance investor (or multiple states property owner), or Lenders that are familiar with this matter that should I form 2 different LLCs in 2 different states? Or should I form just one LLC (not sure if this is even possible or legal)? Also.. I understand that I must get a confirmation (or concurrence) from lender that I'll be transferring my personally owned property to an LLC so that it won't trigger a due-on-sale clause when the transferability happen. Thank y'all for your inputs!

[Joe Nguyen]

Quote from @Steve Vaughan:

Quote from @Joe Nguyen:

Quote from @Steve Vaughan:

I've never bothered with an LLC for residential rentals.

I have 4 for my commercial properties.  

The LLCs are in the state of the property.  

Keep it simple @Joe Nguyen

Thanks Steve. I did think I might have gone a little hardcore for beginner. Should I start with an umbrella policy? 

That's what I did, Joe.  An umbrella policy and maxing out the available liability coverage of the LL policy, usually $500k per asset. 

Since driving is our largest liability, our auto insurer is usually best carrier to get umbrella from. 

 Interesting. Thank you for your insight! Maybe this is a better way to go about for now.