I'm also starting off my own personal investment property journey with my husband. 

If there is a due on sale clause in the loan doc then it doesn’t matter what the loan officer told you verbally.I’m not an attorney, but from my understanding of the loan is still in your name personally a good litigator can pierce the veil and your LLC protection wouldn’t amount to much.

And what if the one person you didn't check has a criminal background, has collections, and more?

If one is transferring property title from personal name, a Grant/Warranty Deed would be drafted/recorded to transfer title. 

Personal Property coverage- furniture, lawnmowers, signage, etc. 

@Reyna AyalaI personally feel this is overkill.

I have a situation where a person I know is moving out of the country and would be looking to put their home for sale in the summer.

Insurance liability, I personally know 2 families that lost their children in home pools.

The other PM can be a fix-mindset type of person where they are not willing to share anything unless you have a property and are willing to sign a PM agreement in the same conversation. 

You’re going to be personally sued no matter the cause of the loss.