If you're going the umbrella insurance route, perhaps see if it will cover you for several things including just the routine slip and fall (like mold or earthquake).

it was a one of a kind car wash at the time and I think that helped with a high appraisal. at time of the lower appraisal the owners were using as an umbrella company and showing  -$80,000 a year in income. we spent a little bit over half a million to replace and renovate all the equipment and customer lobby all in all. check it out on google, Cache car wash express and detail in Logan utah! 

Hello everyone,Can anyone please give me a recommendation for a good Umbrella Insurance Policy?

Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is expected to be higher, you may consider an umbrella insurance policy.

I bought an umbrella policy.

I use to be sold on the Umbrella policy but then you have to up all your insurance premiums to meet the Umbrella policy which kills your cash flow. 

I worked really close with my insurance broker this year to make sure all of our properties were properly insured too because of rate increases and he assured me that my primary covers it and it’s listed on my primary and it’s also listed on the separate umbrella policy.  

Talk to an attorney, but a good umbrella policy will probably be sufficient for what you're doing (and cheaper). 

1) you don’t need/want an LLC2) get a $2M umbrella, super cheap and covers you when you ar responsible for the lawsuit, not the property. (90% of the time.)3) get a VERY good PM, you don’t want a professional tenant living there for a couple years without paying rent.

Get an umbrella liability policy.