@James Dee A bridge loan probably makes the most sense in this situation.As an umbrella rule, debt is going to be cheaper than equity.Bridge lenders tailor their products to accommodate situations like the one you mentioned, so it shouldn't be too much of an issue to obtain bridge financing assuming you're otherwise creditworthy and the building is in a reasonable state.

I can also say I offered a $5 Million umbrella, I even have her written response that I was being ridiculous, $1 Million and an LLC was fine.

Got the oceanfront condo on Ka’anapali beach five years ago and that was another great decision because now I live on Maui about 25% of the year and run my business from under a beach umbrella with the ocean only a few feet away.  

You should also get an umbrella insurance policy for your investment homes.If all you have is enough cash to purchase one home then I would say leverage it to buy more.

This is one of the issues to be attacked in court that the property is under the corporate umbrella.

Also, make sure you have adequate insurance for the buildings and for liability, including an umbrella policy.

Where the umbrella policy is of more significance is to cover you in the event of an auto accident.  

High leverage and a good umbrella insurance policy will protect you from lawsuits. 

The risk in doing so is much greater than the reward/protection, IMHO; however, I also have a $2.0MM Umbrella policy that probably affords me more protection than an LLC would or could in a situation similar to yours.  

Al comienzo esa proteccion la puedes combrar atravez de seguros (seguro sobre la propriedad y despues una "umbrella" policy).