While the LLC provides asset protection, you can also achieve similar protection results with an umbrella liability policy of sufficient size if the properties are in your personal name.  

My cleaners are phenomenal cleaners but generally stink at really understanding if something breaks (e.g. beach cart, umbrella goes missing, etc....).  

As the theory goes, if you wrap each property in two layers of LLC's in this way, it's very unlikely that your personal assets would be at risk due to a lawsuit relating to your investment properties.However, I've heard a few people on BP prefer to hold properties personally, likely due to easier financing (FHA loan vs. commercial loan) and they cover their risk to their personal assets (due to a lawsuit) with an Umbrella insurance policy.  

I am not sure. about seller financing fees, but banks usually give you break downs of these after preaproval.In general ask for free quotes for management companies, insurance (commercial and umbrella), grounds keeping. 

Agree with earlier comments, home insurance looks low to me but might be appropriate for your area, get an umbrella liability policy at least $2m another expense I see overlooked a lot is what I call structural, roofs, concrete, foundation, siding or exterior painting are all things that need to be done from time to time and you could be buying right at the point where those are bills coming do.

Thanks,Daniel  why not keep them in your personal name and get an umbrella insurance policy.

And absolutely, get an umbrella policy. 3rd level of protection.

With rentals, if you have a good umbrella policy it can shield you from liability and the use of a LLC is not always required.

Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is likely to be higher, then you may consider an umbrella insurance policy.

If it is asset protection, you can certainly also look into an affordable umbrella policy.