Liability and umbrella insurance policy should be sufficient.

Have you considered getting an umbrella insurance policy instead of an LLC for your first few properties?

There was a guy that did a post the other day who was 21 and already saved $100k.A lot of the times (this is not legal or insurance advice), but your assets can be adequately protected via proper insurance on the property which would included a liability policy, and then with an additional umbrella policy.Keep in mind, transferring a property from your personal name to an LLC could trigger the loan's due on sales close.

If you are still concerned, get an umbrella liability policy and/or move the property into an LLC.

As far as protection, an umbrella policy can be sufficient for protection, but you'd want to talk this over with an insurance agent and probably a lawyer as well as I am neither of these things.

Otherwise, you run the risk of the LLC protections not applicable because of mixing the two together exactly as you said.My attorney did suggest one umbrella LLC that would include the other two, but we decided it isn't worth it at this juncture.

Between having minimal liability risk in my own personal activities, renting to only the very best tenants, having excellent independent tenant screening, long time property management relationships, adequate per property insurance coverage and tack on umbrella coverage as/if necessary, I am more than adequately covered.

You can simply form a partnership and buy umbrella insurance.

I have a few properties in my personal name and carry a large umbrella for peace of mind.

My goal is to remove the existing mortgages from my personal credit into the LLC where we have landlord ins and an umbrella policy.