I want to make sure my assets are protected so I would like to know some opinions on what types of insurance I should have and when it makes sense to transition to a LLC because I currently own the properties personally.

Having 5 units also does give you some protection if 1-2 units have tenant issues, which is good.The estimated closing costs of $3,000 seems a bit low to me, but that certainly varies widely from lender to lender and from area to area.

My point is that for effective asset protection an atty specializing in asset protection designing a continually changing plans is necessary. 

If something were to happen on my property like college parties, is that normally protected under a good insurance policy?

At the city council meeting last night, there was a lot of talk about the Bert Harris Act/Private Property Rights Protection Act, and the number of lawsuits that would follow in the wake of this ordinance if it passes.

Have an attorney and CPA work together to develop a personalized asset protection plan for you.

Questioning the level of protection by LLCMy husband and I have lived in greater Los Angeles area for 10 years with modest assets worth protecting from creditors.

Am I protected if I load the properties into an LLC?

It has to do with protecting the buyer in terms of title issues, title insurance in SC will not cover a new owner unless a new survey has been done in that new owner's name.

This may be a good solution for you but be sure to understand the law and operate it properly so you don't lose the protections afforded.Most investors I deal with own the property in their own name.