Investing is a supplement and a hedge, but you earn more for all of your investments, but upgrading your salary or wages year over year.

Your primary insurance policy with $300,000 in liability coverage should be sufficient in 99.999% of all lawsuits.5.

I'm thinking about getting personal liability coverage from my primary home insurer but am yet to find out if it works as I don't live in Texas.

Then my home owners insurance on that property has liability coverage so I should be able to contact them to cover my LLC?

The questions you raise would be addressed by closing through title and obtaining title coverage.

The best thing to do is to take the knowledge you learn here, on podcast, and in books, and supplement it with going to local real estate investing meetups as much as possible.

Right now, for the liability coverage, we have an umbrella insurance in place. 

You'll definitely want to make sure you have some waivers put together if you go that route though, as well as getting the appropriate additional insurance coverage for using the boat as a rental.  

My normal insurance provider(Erie) said they will not provide coverage on a rental we are about to purchase due to the home having fireplaces.

The end result is the non pet owners will end up paying a rent that supplements the pet owners due to increased risk (pet damage) requires increased income.