Should I create an LLC, or get an umbrella policy?

Once you are no longer living there then putting it in an LLC or an umbrella policy could be needed.

@Taylor Angel Although your scenario of a contractor injury is extremely unlikely, an umbrella policy is also a very simple solution to an LLC or multiple LLCs. 

I would suggest you save until you have @30% down payment find a deal that cash flows minimum 8% Don’t forget after the first rental save enough to cover repairs and capital expense replacement make sure you have adequate umbrella insurance.

And if it ever came down to going after the property in question, my CPA tells me the umbrella insurance policy we have should protect us 🤷🏼‍♀️

You opted to do umbrella policy instead of LLC for assets protection.

Umbrella insurance if you get sued.

And why the extra umbrella policy?

@Craig DieterichYou need a great Cpa as you build your empire and be sure to get extra insurance such as an umbrella policy.

Generally speaking, the better the returns, the more you want to achieve that under a Roth umbrella.