To LLC or not what is your best protection

[Brian Brown]

I'll guarantee this has been asked a thousand times on here but am being somewhat lazy after searching for it thought it would be faster and easier to just ask again. I'm sure this answer also changes as you grow your business but as a newbie with just a few rentals what is the best way to protect your personal property in case of a lawsuit. Some say form an LLC others say they don't mean anything and are completely pierceable by a judge and just get an umbrella policy. I value everyone's advice I'd really appreciate those who have a factual statement vs. an opinion as we all have one just like something else we all have.

Side note - Does having an LLC help with accounting and taxes?