If that is your only asset, If it were me I would get an umbrella policy.

I was not impressed with his response. and he said to get ins/an umbrella policy (no duh!).

Should I create an umbrella LLC? 

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.

Hey @Charles Shealy, your best bet for asset protection is good insurance and corresponding umbrella policy.

We highly recommend additional liability insurance on your homeowners or a separate umbrella. 

A FB friend mentioned that she has an umbrella policy on properties.

Right now they’re all covered by liability insurance and an umbrella policy.

I would tread lightly with the lender, as with this climate of higher lending rates, they just might bite on a "due on sale clause" to get a better return on their money.Alternately, you can transfer ownership back into your personal name, and then get a commercial umbrella policy.With this new FINCen reporting rule that just went into effect, I wonder aloud how corporate veils might now be more easily pierced, thus mitigating the advantage of the entity?

I also found out the umbrella policy under a LLC would not be applicable for the rentals since the rental owner is the LLC and the umbrella is for the individuals.