I have a $3 million umbrella and still require them when I can.

But, you know, there's tons of stuff that falls under the umbrella of 'properties' and 'real estate'.

In order to protect your duplex from things you do, you can get umbrella insurance or a trust for your property.

This will be much better than the commercial rates and terms you'll get with an LLC.2) If you invest in your own name get an umbrella liability policy to cover you in addition to your regular insurance.3) If you buy in your personal name, don't bother transferring to an LLC later.

An umbrella policy is a route to look into.

A good umbrella insurance policy usually covers that.

If this is the case and you don't have much assets to protect - you should look into skipping the LLC and doing an umbrella insurance policy.Without turning this into an LLC vs insurance thread - you should look at the pros/cons through the search function on BP.

Consider looking into umbrella insurance.  

My next steps are: Form a LLC (name already chosen and confirmed it can be used in above States)Set up a business bank accountInterview property management companies (need some referrals)Look into financing in detail (conventional loan vs hard money lending) - need to look at smaller banks that would lend to a LLC perhaps with a personal guaranteeVisit the site (maybe a property tour)Make an offerGet an inspection / appraisalClose on a dealGet a landlord insurance policy + umbrella policy (need some referrals)As always, I would appreciate any comments, thoughts or feedback.

So I just got a $1M umbrella policy to cover me above and beyond my normal insurance.Good Luck!