I've always just purchased everything in my own name, with a $3MM umbrella policy in place.

I have an umbrella policy and with financed property, I may not be as worried as I should be about taking the next step.

Then add a good umbrella policy for added security.

Now, you may want to make sure you have specific landlord issue coverage which may not always be present in an umbrella policy over both your primary residence and your investment property.

I make sure the NNN tenant has a lot of it to complement what I need (including my $5mill umbrella).

Make sure that you each have umbrella insurance of at least $2mm.Recognize up front that partnerships often result in frustration and remorse due to inequities in work performed (that is not property recognized in the operating agreement), differences in opinion on how to grow the business (take distributions versus plow all profits back in), etc.

I have a quick question as to how to allocate my umbrella insurance premium to my REI expenses.

My understanding is that if the property is in your name you can get an umbrella policy.

I do not want this transaction to fall under the umbrella of an agent buying a property without disclosing all the info to others involved.

A comprehensive umbrella policy is cheap.On casualty coverage, 12 units isn't a statistically large enough pool to safely self-insure.