Why not just get a million dollar umbrella policy for your protection. 

I know the general consensus is that you should have an LLC for protection but I was wondering if anyone decided to forego an LLC (for maybe an umbrella policy) when they had a single property?

She does not have a real estate license.She has an umbrella insurance policy.

I'd suggest an umbrella policy as a minimum.

Finally, bundling multiple services (house, umbrella, your cars) with the same carrier will definitely save you money via multi policy discounts.

In addition to having some units insured by them they also are the provider of our umbrella policy.  

.), 2) An umbrella policy for the property with sufficient liability coverage would cover any liabilities arising from a pool incident (or any incident).Are there any reasons why we should not purchase a multi-unit complex with a pool in it?

Also, don't overlook the fact that those starting out with a low net worth may be fine holding investments in their own name, or a d/b/a, and simply buying extra insurance (think an inexpensive umbrella policy) to cover potential liability risks.  

I am not worried about the liability implications because I have landlord insurance along with an umbrella policy.

@John Powell If you can't put it in an LLC, be sure to have an umbrella insurance polict