I have been taken very few times by another investor, and a non-compete would have done little to prevent it.I personally think that non-competes are a little over kill.

There is one here on the sight that looks pretty solid if not overkill compared to what I have been sent on prospective properties.Also, anyone in particular you recommend for Land Lord property insurance?

These degrees of separation will create an "iron veil", and while it is over kill for a portfolio of just a few properties, if you plan to grow to any size, you will be set with the ground work in place.

I also found some online resources claiming to do it for $3500 and they set you up with a consultant, help with the marketing of your fund, and have a list of brokers who can help sell it as well.It might seem like overkill if you're just going to borrow money from you family/friends but if you want discretionary power and the ability to draw the funds quickly without getting a bunch of signatures from the investors, this is the way to go and still be covered.

Is $1MM landlord insurance each sufficient or overkill?

If your reserves really grow to the point that its overkill and you don't want to invest in any more properties, then pay your mortgage down some.

I've been advised that in addition to the liability protection an LLC provides, and in addition to the homeowner's insurance I cover on my rental property, I ALSO need insurance for the LLC that protects me from general liabilities that might arise....Sounds like overkill to me...thoughts anybody?

Here's an interesting article from the Times of London, covering Obama's overexposure & overexpectationsDemocrat anger at Obama overkill: Concern is mounting at the president’s tactics

I think that is over kill- but it should settle your nerves.

The tenants may be more likely to use it and it seems the A/C unit is overkill 99% of the time, although it will probably hurt marketability to not have A/C.