How should I structure my 1st rental to protect myself?

[John Fider]

My goal is to protect my personal assets from lawsuits on my rental property

Is it possible to, after closing, once the deeds has been transferred to our names, is it possible to transfer the deed to an LLC while keeping the mortgage under our names?

Can the liability insurance coverage alone protect us from lawsuits? Do you recommend getting an umbrella policy?

Starting as an LLC right from the start doesn't seem possible because of the cost involved. What would you recommend?

As an outside the box thought, if I was married, would separating our assets protect them. Perhaps have the personal home be under her name, and the rentals under mine? If a tenant were to file a lawsuit on the rental, would that protect our home?  just a thought.