I just read one idea I like that encourages to just get an umbrella policy in the unlikely event you are sued for a boatload of money that isn't covered by your regular insurance.

Just take out a $1M-2M umbrella policy for a few hundred dollars a year and stay as a sole-proprietor as long as you can.

You will sign a personal guarantee so that if your LLC fails to pay, you will be personally on the hook.2) LLCs in my state require no annual maintenance fee, so you can set one up and forget about it for 10 years, then start doing stuff in it and there is zero difference than if you just opened the LLC yesterday.3) LLCs can be useful asset protection strategies, but be sure to layer that strategy by having sufficient umbrella liability coverage. 

Remember to get an umbrella policy as well to cover all of your properties.

Sidewalks and parking lots dotted with festive café-style tables, umbrellas or tents as restaurants reinvent outdoor spaces to take advantage of Mayor Eric Garcetti’s “L.A.

I chose to hold the asset in my name and get a ton of insurance, umbrella, etc.

Ideally we keep the existing loan in our names and cover ourselves with extra insurance, both personal umbrella and on the rental itself.

What about the umbrella policy? 

Prior to that, with 53 doors, I just had everything insured with the umbrella.  

If it’s your primary home I’d look at at least $500,000 with an umbrella.