Also, get good liability and umbrella insurance if the property you bought is being rented out to college students.

I am now in need of an umbrella policy.

First thing is an umbrella policy and a land trust.

Umbrella insurance, a quick explanation would be nice, from what I understand it's just a bigger coverage for your property.

Account Closed I have worked with John Booth at Associated Agents in Lakewood for about 8 years - for everything from home and auto, to rentals, to fix and flip, umbrella and new construction projects.

Is the best way to do this through a LLC, or buy than transfer to an LLC, or buy and just have an umbrella policy in place? 

You can always add extra umbrella personal liability policy on top as added protection.I'm not an expert on insurance (so ask your insurance agent) but this worked for me. 

I rely on insurance - I put $1,000,000 liability on each property and have added a $10,000,000 umbrella policy on top of that.

I had put all properties into one LLC, with umbrella insurance.  

I was hung up on that clause as well and think you're probably right that implementing a RUBS would fall under the umbrella of a 'substantial change'.