An umbrella insurance policy may get you guys the same result here as well. 

Partnership deals, asset protection using Land Trust,Umbrella Insurance etc

An umbrella insurance policy for you while you are actively investing wouldn't hurt either.Look for Facebook groups that discuss wholesale deals locally to source fix and flip opportunities and get on the list for the local wholesalers near you.To Your Success!

Or, is it worth just getting an umbrella policy to cover all properties?   

I was wondering if adding an umbrella policy might be a solution.

Like others have said, you don't need an LLC to get started with STRs.If you own a single unit or even 2 or 3, simply make sure you have the best insurance to cover any issues as well as an umbrella that can cover any excesses.Plus the major key will be maintenance.

You would have to have the owner of the property file a motion for a hearing with the creditor and bankruptcy trustee, to get permission to sell the property, essentially removing it from the umbrella of the bankruptcy.

You just get good insurance and possibly and umbrella policy for added liability coverage.

While we do not generally manage properties outside of our own properties, I did him a favor and added his property under our umbrella. 

Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is expected to be higher, you may consider an umbrella insurance policy.