My personal rule of thumb -If Personal wealth + investment wealth < $1M then $2M umbrella policyIf Personal wealth + investment wealth > $1M then $2M umbrella policy and LLCBest,Terrell

Less concerned with liability - between insurance on the home, umbrella policy and AirBNB's host insurance - I feel comfortable with my coverage.

However, is there a way to bundle all of this income and put it under a business umbrella to show consistent income?

And should include an umbrella policy too.Same for taxes - make sure you use the actual tax.

Of course there is always the option to just buy them in your personal name and max out the number of 30 year fixed rate mortgages you can get your hands on...I just suggest you get an umbrella policy when attempting that. 

Maybe you need an umbrella insurance policy if it is appropriate to your situation.  

As my primary residence, I was told an LLC may be overkill too and that I should consider just getting a big umbrella insurance policy vs an LLC.I plan to get more properties in future and was wondering I don't get an LLC, can I run anything separately in my first MFR like an actual business?

Is it possible to structure all of the aforementioned entities into one umbrella LLC such that the umbrella LLC is majority owner in any state and you (the physical person) is the minority owner in California?

One way to protect yourself against that scenario is an umbrella insurance liability policy.

cars, rentals, house and umbrella in Chicago area.