You have a mortgage on it so no one's going to go after you; you'll just need good rental insurance and (recommend) an umbrella policy. $200-300 per month isn't great, so make sure it really makes sense to keep it as a rental.

Probably go with just an umbrella insurance policy.

If not, you can get an umbrella policy from just about any insurer.

@Juan Carlos Gastelum As the world's greatest investors have taught us, making long-term investment decisions only based on tax policies isn't a good idea but it sounds like that's not you're only reason for investing in the US. 

Does my homeowner's policy need to be updated to name the LLC as the insured? 

A bit about me: I’m a payroll manager for a restaurant group, where I handle everything from creating policies and SOPs to processing payroll and ensuring compliance with state and federal laws.

However, fees can be high, including asset-based and transaction charges, and strict IRS rules require careful management to avoid penalties.

However, if you want a well-designed, maximum over-funded policy that can be leveraged for real estate investing, there are really only just a few companies that have everything you need.Minnesota LifeAllianzNational LifeAmeritasI don't want to write a book here, so if you want to know why most other companies WONT work, just PM me.

Guard is not renewing the policy. 

Strictly analytical speaking you cannot make a financial case for unleveraged investing in real estate.