First step is to check with the city or county to find out what the zoning is and the allowable uses are and what is required for development in terms of lot coverage, setbacks, height restrictions, utilities, access easement, parking,  etc.

The irony is most investors who form LLC's do not operate them correctly, fail to obtain appropriate types or amounts of insurance coverage, fail to understand their coverage exclusions, take short cuts and don't obtain permits, use unlicensed and uninsured vendors,  fail to execute contracts with same vendors, don't understand the mechanism of additional insured status, indemnification etc. and are actually more prone to claims and conflict with their LLC than the individual who does not own real estate in an LLC but understands these tools I mentioned.

Also buying on the Pacific coast highway and having to supplement another $3000 a month in mortgage payments for the sake of appreciation is also not worth it. 

The only issue we have had getting the claims paid is when we filed against the renter's old policy and not their renewal policy, however our sister company in Denver (who initially turned us on to Rhino) have stopped using it after a couple of issues collecting.We have tenants carry 2x the monthly rent in Rhino coverage in lieu of a traditional cash security deposit.

Tell them it’s an investment property with no owner use and you want a commercial policy with $1M/$2M liability coverage.  

If your insurance coverage isn't enough, they could seize the LLC assets, but not your personal assets.Additional thoughts:1.

Coverage for those vehicles?  

**DSCR Lenders**: Debt Service Coverage Ratio (DSCR) lenders can be a good fit if your rental properties are generating solid cash flow.

I know experience is the most important but I'd like to supplement it with self education.

Getting a debt service coverage ratio loan shouldn't be difficult when using an LLC.