Get good insurance for each property plus a great umbrella policy.

I am Canadian and it's been recommended to me several times by accountants to just buy my first property in my own name with a large(5 Million $) umbrella insurance policy.If I buy in an L.L.C. it must be owned by an L.L.P. so I won't be double taxed  (U.S. then Canada).

State Farm will not do an umbrella policy because My father and I will both be on the loan/title (thinking of alternative ways to do this, advice would be great.) and they think it is too much exposure. 

If it's for liability, you might want to research umbrella policies. 

I know that LLC's provide an umbrella that can protect assets in case of personal shortfalls, but I would love a more detailed analysis of the pros and cons, especially in regards to taxes. 

If a cane isn't available an umbrella works great as well. 

She has been very helpful, and great quotes on both homeowner, rental, and umbrella.  

I added an umbrella insurance plan to the home to cover most types of suing but I'm not sure how it works if the house is a rental.Much Thanks!

So your saying you never even bothered with the LLC route, and just got a large personal umbrella policy?

For example, I hold a 2 million dollar policy with a few different umbrellas.