You may not need an LLC at all if just starting out and insurance might get you all the coverage you need.

Fingers crossed in 7 years I have not had to test my coverage, but in the area of my rentals a golf cart is expected with the rental.

You should also check to see if they require you to have coverage, and if you do, which policy would be primary.

Coverage excluded for theft/vandalism.

Your insurance coverage is something to consider, as well, but that is relative to whether you're renting/subleasing, considering Airbnb for a current rental property, or something else.

What companies offer multi-family insurance coverage?

As a GC by trade, they also provide you with one pivotal point of liability coverage as well as being contracturally obligated to meet your deadlines, quality standards, plan implementation, and inspections with the municipality.  

I'd build at least 3 units. the DSCR loans we underwrite get 1.6 debt coverage and because we build under 4 units they have so many exit strategies depending on which appraisal method goes for more. 

Converting your single-family home into a rental property involves several considerations to protect yourself and ensure smooth operations: Establish an LLC:Liability Protection: Holding the rental property in an LLC can protect your personal assets from potential lawsuits related to the property.Tax Benefits: An LLC can offer tax advantages, such as pass-through taxation, where rental income is taxed at your individual income tax rate.Insurance:Landlord Insurance: Ensures coverage for property damage, liability claims, and loss of rental income.Umbrella Policy: Provides additional liability coverage beyond your landlord insurance, offering extra protection.Deductions:Mortgage Interest and Property Taxes: Continue to deduct these expenses.Depreciation: Depreciate the cost of the property over 27.5 years, excluding the land value.Maintenance and Repairs: Deduct costs related to maintaining the property.Property Management Fees: Deduct fees paid to the property manager.Filing Taxes:Schedule E: Report rental income and expenses on Schedule E of your tax return.Separate Accounts: Maintain separate bank accounts for rental income and expenses to simplify bookkeeping.Lease Agreement:Solid Lease Terms: Ensure your lease agreement is thorough, covering rent amount, due date, late fees, maintenance responsibilities, and eviction terms.Legal Review: Have the lease agreement reviewed by a real estate attorney to ensure compliance with local laws.Tenant Screening:Background Checks: Perform credit, criminal, and eviction history checks on prospective tenants.References: Contact previous landlords and employers for references.Property Management:Regular Inspections: Schedule regular property inspections to ensure it's being maintained properly.Maintenance Fund: Set aside a reserve fund for unexpected repairs and maintenance.Moving Out of State:Communication: Maintain open communication with your property manager.

It generally covers issues like forgery, undisclosed heirs, and errors in public records.Lender Acceptance: Many lenders typically accept CLTA policies because they provide coverage for common title issues.