Additionally An umbrella policy is also a good idea regardless 

I'm also a little confused as to how the 2 LLCs would be connected....So, if you have an LLC that's owned by another LLC (parent umbrella LLC), does that mean you have to register as a foreign entity?

Umbrella Insurance Policy: Keep a $2,000,000 policy over all of your houses.The lawyers don't want your personal assets.

etc...Lastly, as an insurance agent- I would make sure you get an umbrella policy if you don't already have one to further insulate you from liability created with the dog (if you begin allowing pets-increasing your exposure). 

Cases like the 16.6 Million Dollar Chicago Fatal Porch Collapse of 2003 were 13 people died and 57 more were injured that took ten years to litigate...I can't find enough facts from articles online to really know how the owner was only out $660,000 when it doesn't appear to be in any kind of corporate structure that provides liability protection, and he owned 20-30 other buildings at the time....it appears he simply had a boatload of umbrella insurance but I can't tell anything for sure.

It was more of an umbrella effect.

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.

I think if you want to protect your equity and keep your taxes simple, just get an umbrella policy.

That's a lot of properties under one umbrella of a single LLC.

I think I'm going to sit tight and buy a 5M umbrella policy (PUP) for me & my husband for now.