To add to what @Jerry W.says I see lots of properties bought into  the late 90s in corporations. 

. $200+ dollars later, my attorney is drafting the Limited POA and General Partnership Agreement.I do have a followup question regarding liability and protection:Does anyone have thoughts on if its okay to start out with just a large insurance umbrella policy, in addition to my standard policy and General Liability Policy and then once we get several properties under our belt consider incorporating for better protection???????

It was later added to incorporate a limit based on asset basis as well.

You can also consider using LLC or other incorporation type and purchase the property that way.

I’m a stock and options market coach and I’ve been investing in the stock market for so long that it makes me think I’m old.I had to cling on to my chair when reading this thread otherwise I’d fallen off several times.Let me try to help and make sense of it all with a few essential points:1.

Things like deeds, mortgages, articles of incorporation, and anything else that a title search could find but in one location would be super handy!

although it sounds like your trying to incorporate more than simple servicing into one size fits all.for simple servicing we have used Zimple money .. 

*******************And, this is some of the information they need (I'm pasting this from an email they sent to me):1) Personal ID verification - please send a color image, front and back, of: Current Government or State Issued ID 2) Tax ID verification, send copy of: SS-4 IRS Notification Letter (Unable to accept SS-4 Application) 3) Business Address (listed on your application) verification, send copy of: Utility bill or Government/State document showing the business name and physical address Please note, we are unable to accept PO Box or commercial mail forwarding addresses 4) Business Agent (listed on your application) and Legal Business Name (if any business type other than Sole Prop), send copy of: Articles of Incorporation/Organization or Operating Agreement (signed and specifying you as an agent/officer/member) 5) DBA Name verification (if applicable and listed on your application), send copy of: Assumed Name or Fictitious Name Statement showing DBA. 6) Business description: Please describe your business and provide a link to your website.

I picked up 3 bed frames (1 full, 1 queen, and 1 twin), 3 mattresses, nightstands, dining table & 4 chairs, mirror, pyrex dishes, secretary cabinet, and a few other knick knacks for $235.What really ate into my budget was things like comforters, bed sheets, lamps, coffee maker, pillows, rugs, etc. — I went to IKEA & Target for those and that came to about $800.

Being incorporated in some way may help to limit your liability.