The IRA would own the property, pay all the expenses and receive all the income - all within the tax-free Roth umbrella. 

One option, depending on how many properties you have, is to do a cash out refi into a single umbrella loan.

Seems much simpler to just insure them and get an umbrella policy.  

Get an umbrella policy to cover liabilities. 

Something else to keep in mind is a LLC does not provide absolute protection so you still need to take other measures to protect yourself like insurance, umbrella insurance policy, trusts to help further hide your identity, don't use your name and home address as the registered agent for the LLC. 

One of these days I'm going to actually be on a boat having umbrella drinks with @Bob B. when he throws me under the bus :)  Thanks Bob! 

Just remember if you are on a buy and hold that it will be a good amount of money that you will have to come up with/lose if you need to take one of the properties out from under the umbrella.  

I’m planning on putting my rental properties in a trust and using umbrella coverage for liability protection.

., for my properties I have been using Foremost insurance with normal homeowners coverage as well as general liability umbrella. 

Protect the relationship.Without him/her tho a good umbrella policy will be ok for first one or two.