Just make sure you have adequate amount of liability insurance for each rental, on top of that you can purchase an umbrella insurance policy which comes in increments of $1MM.When you use leverage to acquire investment property in an IRA - portion of the IRA income will be subject to Unrelated Business Income Tax (or UBIT), your IRA will owe and have to pay this tax.

And lastly, myself, supervising remotely from some tropical beach with great wifi and delicious fruit cocktails with little bamboo umbrellas :)  

Seems like it's worth the cost to get a solid OA in place if you're going down the LLC route, otherwise just forget the LLC, purchase in your name, and buy a bigger umbrella policy.

A good lawyer could argue this is the equivalence of co-mingling funds because the loan is to you, not the LLC.I put more focus on 1) fix my property up 2) mange it well 3) have high liability coverage on my property insurance 4) obtain an umbrella policy for excess liability coverage.All that said, the process you have set up is what a lot of people do.

I normally recommend an Umbrella policy as well.

My State Farm personal umbrella liability insurance is lapsing b/c I now have 5 rentals and the maximum is 4.

Because you can achieve asset protection using Home owners insurance and an umbrella policy.  

My misc is larger than most for various reasons including expensive umbrella policy (for various reasons I expect my umbrella to possibly be near highest on BP per the amount of coverage and I have decent amount of coverage).Net yearly income: If it had never been refinanced it would be having outstanding cash flow. 

I've read up on $2M umbrella policies and putting properties in LLC's, but at the end of the day, do I really want to deal with all this just to have a different type of investment in my portfolio?

When do you need to think about umbrella polices?