In that case, the same filing guidelines and estimated taxes that apply to a regular LLC will apply to each unit of a Series LLC.I have rental properties in Ohio, and for the above reason (and various others) I don't use LLCs (I have regular property liability insurance on each + an overall umbrella policy).

Will the Trust also provide the same tax benefits of an LLC if we keep it in there instead and just have a large umbrella policy to cover any potential lawsuit?

This is a different scenario entirely from "capital raisers" syndicating out small slices of equity from HNW investors while working under the umbrella of being a part of the GP.

Another option would be put them in your personal name and get an umbrella liability policy. 

I would love some feedback on this list and/or additional markets if someone is willing.We have financing lined up, the down-payment in cash, funds for immediate reserves and a quote for a personal umbrella policy all ready to go.

I would consider an umbrella insurance policy to cover EVERYTHING related to the property.

Get umbrella insurance instead.

I have insurance personally with very high liability limits and an umbrella policy.I have LLCs and the LLCs have Insurance.LLCs might be great for limiting liability...but that is just one facet of insurance.

They would be better off getting better financing in their personal name and acquiring an umbrella insurance policy to protect themself. 

On 10% down, the principle, interest, taxes, property insurance, and mortgage insurance usually totals to around 1500 per month.So according to my math, I estimate that I need 500 more per month to cover maintenance, vacancy, eviction, water, garbage, umbrella insurance, etc.?