You can leave the property in the Trust if you like and purchase an Umbrella Insurance Policy (a cheap date that all investors should have/consider) which will give you more protection should you be sued. 

Typically, you can purchase an umbrella policy for as little as $300-600 annually that offers a million dollars of liability coverage.

I have an umbrella policy and LLCs.

Doesn’t matter if door is self locking, he props it open with umbrella or door mat.

I have no more headaches, there is an umbrella policy for the properties, and I can buy more properties with the cash flow without anymore personal money.

I think you're right not to start out with the LLCs yet, its so much hassle when an umbrella policy will do.

The IRA owns the LLC and you can act as manager.In both cases, there is a legal entity under the umbrella of the plan that you control and use to invest, without the need for 3rd party processing and per-transaction fees.On the investing side, the 401(k) offers one advantage, which applies in the case where you might use mortgage financing for the plan to purchase a property.  

Second question, I have an umbrella policy, is that a good choice?  

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.

It could very well be the route that is "cheapest" now, ends up being substantially more expensive down the road.If the costs above are not worth it to you...maybe pass on the LLC and get yourself a good insurance policy, and maybe an umbrella policy personally.