- Bankers - Mark Twain said it best - they are the type that will loan you an umbrella and ask for it back the second it starts to rain.  

Just purchase a separate umbrella policy to provide even more coverage. 

Instead of buying an insanely expensive workers comp policy for you and your partners you should instead buy a million dollar liability policy and a million dollar Commercial Umbrella for you business entity.

A secondary umbrella liability policy may be a prudent move too.

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Also, I'm not asking on whether I should start an LLC vs an umbrella policy.

Additionally by putting the property in the LLC helps to prevent someone from suing me personally should they get hurt on the property or something of that sort, it will not however, stop them from going after the LLC assets if you get sued personally.I also purchased a  $1Million umbrella insurance policy to protect the LLC and myself. 

I've also read that the LLC is not always worth its weight so long as you have solid umbrella policy to protect your personal assets.

I try to get at least $500K of liability insurance on every house then have an umbrella policy over that.

Having the option of allowing others to enter under the umbrella of the company to conduct business and exit at will is awfully handy.How you are introduced or know others admitted, besides them being a qualified investor or not, is important, having an existing or business relationship may need to be established prior to admittance.I probably took this off on a tangent, as your participation can be taken care of through accounting functions