. , people get all caught up in creating an entity because some guru asked them to do so.Have you considered buying in your name and getting a $1mm or $5mm umbrella liability insurance?

@Dustin VerleyYes a PST can be transferred to a self-directed IRA since it falls under the qualified defined contribution plan umbrella.

If you're worried about liability, get an umbrella liability policy. 

No firsthand experience, but every time I've seen this question come up the responses indicate that for a few small units LLC will not protect you better than simply adding an umbrella policy to your insurance while being more complicated and expensive to maintain.Also many snags to consider such as banks not likely to finance residential property to the name of an LLC, transferring to an LLC later can trigger a due on sale clause in your mortgage, if you mix personal funds and LLC funds to pay for something you can negate all legal protections.

@Tony MaticIf the funds are under the umbrella of a retirement plan, the loan will need to be non-recourse.  

Usually getting higher umbrella insurance is enough for most situations.

As landlord I will check my insurance and add an umbrella policy just if the motivation is your house and your life savings after an accident. 

Now that I have two properties, I'll be getting an Umbrella Insurance policy which should be able to cover me for 1M+ in liabilities.  

Should I make an LLC or just keep the taxes in my name with an umbrella policy?

Only recommendation there is to carry umbrella insurance, which you should have regardless.Your banker is correct on all accounts