Owner as Property Manager... LLC for negligence liability?

[Delin W.]

Hi all:

I've got two rental properties that I'm about to put into LLCs via Land Trusts. I'm pretty confident this will take care of my concerns about homeowner liability and the "due on sale" clause.

My remaining concern is the risk that negligence carries. Because I am small, I am managing my own properties. I understand this still puts my personal assets in the line of sight for a negligence lawsuit. My personal assets are enough that I want to ensure their protection.

So how do you all handle this? Do you form an LLC for the sole purpose of property management? And do you get the errors and omissions insurance in the name of that LLC? What else? Am I on the right track?

Your experiences and advice are invaluable!
Thanks in advance.