Get an umbrella liability policy that covers you.

If it's not under the 203k umbrella, what are my options?

I would however have a decent umbrella insurance policy regardless if you have an LLC or not.Take care,Casey 

1M per occurrence 2M per policy is pretty standard, you can add more by using umbrella insurance which is relatively cheap.

I have a $2M umbrella policy - Third line of defense would be entities such as LLCs.  

If you have the proper insurance coverage on each property and an umbrella liability policy that reduces your risk.

@Dale Lotts & @Tom Wolf a good umbrella policy handles the majority of the liability issues.

Also, 4 properties completely paid for, some one gets hurt they have lots to go after, no debt is on them, some folks see an easy paycheck, yes an umbrella policy will help some.  4 properties if in an appreciating market will grow slower than a larger number.  

We did take out a $1 million umbrella policy for the property, as well as umbrella policies on our personal insurance as well, so we should be pretty well protected in the event of a lawsuit.  

I have umbrella policy for years from PersonalUmbrella.com....Could never figure out who they are or whether they are legit?????