Shonda,As mentioned in the other posts, an umbrella policy provides additional Liability coverage if the Liability Limits of an underlying policy (ie. auto, home, rental property, boat, motorcycle,...) are exhausted in a claim. 

I'm in the same boat but just wanted to connect with you.

In the same boat looking for a new CPA that is not going to cost more than my Tax bill lol. 

I'm in the same boat, just getting started with investing and aiming for my first LTR in the next couple of months.

IF you are east of I-95 then it will depend on a few other factors such as water access, for power boats vs sail boats.  

It depends on the underlying policies (Home, Auto, Boat, Rented dwellings, etc or Business owners, Workers Comp., etc) as to whether this is a commercial or personal Umbrella you should be looking at.

I'm in the same boat as you, this is what I do:-Drive and find specific deals that look attractive to me (deferred maintenance, can tell owner isn't present etc).

@Ciji Masser we are in the same boat..

I was just in the same boat, however I do not have $120k readily available for Real Estate alone, I was still pondering the idea of buying a primary residence on a FHA loan with 3.5% down, and ALSO invest in a rental property with 25% down.

It's not for me but there's money to be made..I am in the same boat.