ASSET PROTECTION- LLC, Liability Insurance, Umbrella insurance

[Uriel A Leon Trujillo]

So guys, i own a 5 unit property, this is my first property. It is a house, with 4 studios on the back area. I have leases in place and a managing company taking care of the property. I have been reading regarding LLCs, Liability insurance/Umbrella insurance for personal protection. AS a newer Real Estate investor, what would you recommended and why? LIABILITY INSURANCE? LLC?.

I was leaning more into Liability insurance/umbrella insurance since its hard to get loans with LLCs etc. What would you more experienced investors do. This property is in California by the way. Anything would be greatly appreciated.