I personally don't think you need an LLC if you have the umbrella policy, and it's certainly not worth losing your loan.http://www.biggerpockets.com/renewsblog/2013/08/17...

I do have high insurance and also an umbrella.

And at some point an umbrella insurance. 

It seems the LLC is common but can be more expensive once you get several houses under your umbrella as the insurance becomes more expensive once you need more than 1 million in coverage.  

You definitely want umbrella insurance.

It looks like some people are recommending to hold in your name and just have good insurance and possibly an umbrella policy.

If you have concerns or risk factors there get an umbrella insurance policy to protect yourself. 

What I’m doing with my properties is I am getting the financing in my name, using an umbrella policy until I have paid off a property and will then transfer them into an LLC.

If you intend to live in a unit get to know the FHA  loan for 2,3,4 plexes and use that.Make yourself into the borrower they want, ratio's down, cash reserves--different lenders may haev a little different requirements between them.Some other smaller bank held loans (portfolio loans) may be 20% to 35% down.Focus on getting the down payments while keeping an eye on any net worth requirements the lenders may have for you personally.The more down payments you can get the faster you can grow.Many people hold their assets in an LLC, or LLC's (not a Corp), many others use an Umbrella Insurance Policy--it's a decision you will have to make.You are looking for Cash Flow.

If you keep it in your personal name consider an umbrella insurance policy to cover liability.