One mistake can be forgiven the second never will be.Your vehicles and other assets can be held in personal property trusts etc.Just remember to buy plenty of liability insurance and both personal and commercial umbrella policies.If it ever gets to court your tax returns will be subpoenaed and subject to asset disclosure.So if the business entity operates the business and does not OWN anything because land trusts own every piece of real estate it creates another barrier to asset seizure.

So even though I have business and property insurance, I still keep a 5 mil personal umbrella.....

Since this property is currently in our personal names (not our LLC) we've been paying for a $1 million dollar umbrella policy for about 5 years now to help in any situation that may occur with the house and ourselves personally, so perhaps I shouldn't be so worried about the equity build up in that property... it's probably unfounded.  

You better have also umbrella insurance.

make sure you have all liability covered under an insurance umbrella 

@Michael ElfantBuilder’s risk covers damage to the unit being constructed (property)General liability is more like umbrella coverage.

Hello everyone,I saw an AD that was in my email with Biggerpockets (Finance Of America) I called and got a rep when we asked for his NMLS# he told me that he is an employee of FACo Umbrella Commercial Lending N.O.O and his NMLS# only reflects his previous employment at a bank, and Commercial lending does not require a NMLSThey do loans for fix and flips, buy and holds.I want to make sure of who we are dealing with.

FHA, Fannie, Freddie, VA, even Jumbo all fall under the residential umbrella.

Ultimately our goal is to not have to do a personal loan under a insurance umbrella and have a multifamily real estate property under our LLC for protection purposes.

It's expensive (especially in CA) and may be overkill then just a simple umbrella insurance policy per home.