The strategy shouldn't be either umbrella insurance or an LLC it should be a combination of both at the most cost-effective price. 

The trick is to combine them without the initial negative cash flow.  

I have 50+ rental houses and a handful of office buildings and MF so I'm almost where I could pull it off by myself but I still think we could have more "pull" with a larger combined portfolio and shared resources.. 

My and my soon to be wife both graduated college at the same time and we make a combined $150k/year ($75k each) We are still living at home with our parents to save money, and we want to build wealth in real estate. 

She has rarely even seen any of my 25 units but if we’re out she will occasionally consent to driving by one of the properties or going to check for money from the coin op laundry.

Add the pref to the debt and you have 95% combined senior capital in front of the investor's common equity. 

Combine this househacking with joint venturing on some commercial property around the same market (5-20 units) with a few other investors that compliment your skillset and viola, you will obtain 30-50 units in 3-5 years. 

I rarely used postcards, just finding their phone number and keep calling.

These properties are valued at a combined $430k and are both mortgage-free.

You can also purchase inside of a LandTrust for additional anonymityPro- Legal protection; combined with the right type of insuranceCon- Traditional bank will not lend to an LLC with no track record.