If you're just worried about asset protection, an umbrella policy would suffice more than enough and would be easier/simpler to manage rather than a business entity.

I've already saw in some forums that there are some types of contracts for OF, starting from 2 pages contract with only the basic details and up to 36 pages contracts with detailed addendum.I operate in state of Tennesee (TN), so if you have recommendation of an attorney who'll be willing to work with me on this issue, i'd be more than happy to hear about that.I'm referring to the whole OF umbrella: Selling, Buying, Free & Clear, Sub2 and wrap around, There is no specific niche for me right now.

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

Regardless of how you do it @Lindsay Broome, if the house is in your personal name, I suggest obtaining an Umbrella Insurance Policy to cover your personal assets. 

Also, if you do have free and clear properties, make sure to have the proper umbrella insurance and/or LLC set up to protect your assets.

Why not have two separate entities under 1 umbrella?

A good umbrella policy is just fine for your first few properties.My CPA is @Brandon Hall.My attorney was a recommendation from my partner - http://bradleybclark.com/.Both are expensive but have great reputations.

I'm looking for a new Umbrella policy provider.  

I am also a public speaker, author, sometimes radio show host, and if I was better looking I would have a TV show (been interviewed 6 times) All of those things fall under my real estate umbrella.  

Currently I have homeowners insurance + umbrella policy.