You may want to see if you can get an umbrella insurance on all the vacant land(if its cheaper).Interesting point on trespassing.

Hi Martin,Many investors recommend an LLC and some others just get an umbrella insurance policy.

You can purchase an umbrella policy for pretty cheap if you are worried about liability.  

We have an umbrella company and access to investment capital, but are still working on finding a good first acquisition in the area.

Can't say for California but in TN I do the maximum liability limits and follow that with a personal umbrella policy (PUP) that covers me plus all my homes.

Here are a few of the major things I am currently dealing with.1) I am looking into getting an umbrella for myself personally, but I really don't know what type of umbrella policy to get and what things I need to specifically cover beyond the basic stuff included in most policies.

If it is only onesie twosie type transactions on a few low cost (under a mill total, say) units, then I'd tend to sway towards holding in your own name with an umbrella insurance policy.Also, flips are a different animal and have different tax implications ...

For liability protection, I added an umbrella policy.

What are the pros of putting a property in a llc vs just getting a 1-2 million dollar umbrella policy to protect yourself?

I carry mid-tier insurance coverage on the rentals and also I have a large umbrella policy just in case.