Rental property risk averse

[Chris Wang]

As a new rental property investor, I totally agree with Turner Brandan's statement in , you would be sued sooner or later. Though we can control the risk by screening the tenants carefully, we can't guarantee there are no lawsuits against us which may result in vast losses. I know that a common way to avoid this liability is to find LLCs and transfer the property to the LLC to realize "limited liability", while I'm an investor use financing, according to my knowledge most banks don't allow property title transferred to LLC, they may ask us to pay the mortgage "on-sale". So in this situation, what can we do in advance to minimize our risk during the rental property investment journey? I heard that one method is using "umbrella insurance", is this a good way or any better solution?