In 10 years i would like my income to be supplemented with these properties. 

My husband and I are interested in investing in rental real estate (initially buy and hold) in order to supplement our retirement (which is about 20 years from now). 

You could potentially be liable as an individual, without the protection of a corporation/LLC, and without the benefit of insurance coverage.  

On the flip side, if you put systems in place for effective management and screen your tenants thoroughly, you can very well supplement your current income with consistent cashflow. 

The rent comes in, I pay the payment and leave the rest in the account to build up for payment coverage, those future repairs, and the day when one of the other tenants decides to retire! 

I spoke with another agent who is stating that I need a policy that covers not only premise liability but also completed operations coverage (builder defect) and am waiting for that quote.  

My concern is that we would lose our umbrella coverage as I thought everything has to be with the main carrier!?

when my property insurance company suddenly outright rejected coverage because of knob-and-tube wiring and multiple layers of roofing and deteriorated chimney.  

My brother wanted to sell it, but I decided to start an S corporation and rent out both sides so we could supplement our incomes.

I will do some of that but after listening to some BP podcasts and doing some general Googling I feel that I can supplement my income nicely in the flip or rental game.