I also have an umbrella insurance policy in the event that both corporate veils get pierced.

Piercing the corporate veil is a method by which someone can show the owner of an LLC should not be given the traditional protections.

Does self managing a rental that you own under a LLC make it easier to pierce the corporate veil?

Some of my clients are in the development side now because they can build the cap rate they want that they can't find in the market for sale.You brought up a good point Joel.I've been researching into developing units as well because of the very fact that you mentioned about being able to build brand new units with a higher cap rate than is available with even "existing C class," units on the market today (pierce county, WA/south King county, WA). 

LLC is easily pierced if its just you and your wife.irrevocable trust.. seems to be pretty solid.as well as Charitable remainder trust.. 

Looking for a reliable and reasonable GC in the Seattle area for projects in King County and potentially Pierce County.

We were told LLC is worthless in our situation since we do our management and most repairs ourselves, making the LLC easily pierced.

Many people worry about piercing the corporate veil but that was not a concern.

An LLC will be pierced pretty easily in those situations.

I have warned him time and again against doing this as it would be easy for an attorney to pierce the liability veil should he be involved in a legal situation.