Insurance vs LLC

[Sam H.]

Hi,

I guess this is a question most of us deal with.  If I have several rental properties valued around $100K each, and are paid in full, should I create or bunch them into seperate LLCs? Or should I obtain an umbrella to cover them for liability purposes (each is covered by insurance already).

I keep hearing and understand the concepts behind LLCs, but I also think about the fees, work, paperwork, taxes and accounting required to maintain LLCs properly so that they are not disqualified in a lawsuit.  

Would appreciate any and all advice.  Thank you.