Another option is to get umbrella insurance which would cover your liability in the event of a lawsuit up to the insured amount. 

I decided I needed to either use an LLC or a $3,000,000 umbrella insurance policy to protect my assets from liability suits. 

I think it's fun though.However, I would say get that umbrella insurance policy to help you sleep at night.

A umbrella policy for $200-300 protects you.

So if your contractor injures himself or someone wanders onto your property and hurts themselves you're screwed because you have no underlying liability coverage required for your umbrella.

I have high liability limits on each property plus an umbrella policy on top of that.

Can you tie the property back to your personal umbrella policy?  

There is no due on sale issue here it's being paid off.It's a back door to limit liability, bringing them under the umbrella of the LLC, at that point it's a contribution to capital, then the next step is a partner/member buying out the capital contribution.Thinking, additionally,It also hides the audit after the transaction of the short sale, they only see the property titled to the LLC, if the seller are then excluded out of the LLC from the sale of their capital account, the property remains as titled, again hiding the husband's interests.

Maybe it will be a little different for you in Texas.As for the insurance, you might want to get general liability insurance (if you have a business), and/or personal umbrella insurance.

My attorney actually advised against forming an LLC, and just recommended having a good umbrella liability insurance policy.