Texas Series LLC Vs General Libility Insurance for LLC

[Gary Mandala]

Hi-

I have an existing traditional LLC (me & wife members) with couple of Farm land properties that are leased out. I am planning to buy and hold cash flow rental properties now. I am trying to figure what's the best approach for deeding rental properties from Asset protection stand point. I read series LLC gives good insulation for individual rental prop but involves lot of book keeping,paperwork, etc. Can you all please share your thoughts in general on series LLC and also answer the below.

1. Can I just deed rental properties under existing LLC and buy General Liability insurance for the LLC to cover any lawsuit from rental props?

2. Should I convert my existing LLC into a series LLC and redeed all existing props to sub series and create new subs for rentals? Is it worth the change?

3. Should I create a new series LLC and create subs for the rentals.

I just want to keep things simple from management standpoint and solid from Asset protection standpoint. Option 1 sounds good for me but I want hear from the Pros.

Thank you! for your time.

Gary