About the same amount that the lawyer will charge you for setting up several companies can be used to buy an umbrella insurance policy.

Do you have an umbrella policy, builder's risk, vacant home, something else?

RE, insurance, banking, accounting and investment are all under the financial umbrella and each is a specialty that eventually you'll need to have a basic understanding of, not just in RE, but in life.

They seem to have a lot more flexibility for businesses, umbrellas, general liability, etc.

Unless you have high networth or lot of liquid assets .... umbrella insurance can solve asset protection issues and a CPA can help w/ taxes.

Get yourself a personal umbrella policy, too, it isn't much extra.

Does it make sense to start an LLC or just continue to own / buy under my name and pay for umbrella coverage.

Matt, several CPAs I've spoken with have suggested at least starting with an umbrella policy to minimize risk.  

I settled into the extended-stay motel and the bleak and dark Syracuse winter days and nights.This was not the umbrella-drink vision I was sold for investing in residential real estate.

For the insurance, I think I understand to have landlord policy, would it help to add an umbrella policy too?