Also, the liability limit is good, but I always quote with 500,000 so you can be eligible for an umbrella policy, and it doesn’t take a millionaire to be sued like one!

I am in San Antonio Texas,  I understand I would need to take an exam and have liability insurance.

There are many options depending on your specific situation to be evaluated: credit, income, liabilities, down payment, etc.   

@Harshal Gaikwad If you want liability protection then you will need to place the property in the Rental LLC which should be owned by your family living trust.

They can verify it meets current law, explain some of the more complex clauses (e.g. joint and several liability), and maybe provide suggestions on where you could strengthen it based on their experience.In my experience, most attorneys have very little experience with landlord-tenant disputes.

Yes, I am worried about liability issues in extreme situations and plan to use an LLC.

Town violations, fees, client liability would all be directly onto us.

Secondly- the way you worded this inquiry in regards to LLCs makes me think that you might not have a thorough understanding of the pros and cons to LLCs and how they effect the type of loans you can get and the liability you create or mitigate.

How about a management company to handle all these for liability purposes.If we decide to go with a series LLC structure for our real estate investing, where should our management company (to deal with tenants, manage rent, deals with expenses, etc) will fall into?

Ask your attorney if It may be worth sending them a letter indicating they should open a claim with their Professional Liability Insurance carrier.