A JV would suffice, both of you on title, carry an umbrella policy and have a DETAILED JV agreement.

LLCs, no LLCs, umbrella's, trusts etc.

My other thought is to just use the LLC for syndication cash deals (for more asset protection, where there would be more to go after in terms of equity in the properties) and keep the turnkey rentals (which I will finance with 30-year fixed mortgage with 20% down and keep minimum equity) in my personal name (and just get umbrella policy for extra coverage).

For example: Should I get a business dedicated bank account and credit card, umbrella insurance, set up LLC/S-Corp, etc.TIA

Make sure you have liability through an umbrella that covers your assets in case you are sued.

You might be surprised how little it costs to move from $1M per occurrence/$2M total (in terms of umbrella coverage) to $2M per occurrence/$4M total.  

May change the refrigerator into black so it will match the other appliancesChanging kitchen cabinet staining- that will resemble with the appliancesPrivate backyard not enclosed - can charge additional in the rental fee if backyard is enclosedNot enough accents in the pool area (ex. placement of umbrellas, gazebo, arrangement of pool chairs)Not enough benches; repurposing of existing outdoor picnic benches and tables needed - to experience more of the outdoor area amenities Outdoor public grill placed in a health hazard area (rusty and too near the benches)

Others have suggested using an umbrella policy.  

Although many people do that, the banks' claim is that they do it with the risk of having the lender find out and their loan recalled.To give myself some protection, I have a $2mm umbrella insurance, in addition to the standard homeowners liability insurance on each property.Given this information, what would you do in this situation to properly protect yourself?

If you are just worried about asset protection, just get an umbrella insurance policy that covers all of them.