Would I get protection from a LLC to manage my properties

[Michelle G]

Hi my husband and I own 2 rental properties and our personal residence. All mortgages are in both our names. I would like to transfer the rentals into LLCs but I do not think the banks will go for that if I am wrong let me know.

What if we Started a LLC property management company and did all rental property business through that. Would that offer us any protection and would the company require insurance and would it (the insurance) be expensive?

Next question, we currently have earned income that is over $150k so we don't get to take the loss we have after depreciation on the properties, would the llc property managment co. get to take any kind of loss that could pass through to us.
Lots of questions.. Thank you in advance.