I'm starting with SFRs, but wanted to ask what your recommendations are on the order of things.I've read both sides of the LLC issue as well as on insurance policies, but here's my question.

This policy generally precludes nail and screw damage at installation and into the distant future.Again, thanks the heads up.

Get a good insurance policy and be protected.Joe Gore

If you have a good 1 million dollar Umbrella policy that should be enough.  

My wife is not currently listed on the insurance policy.

From the insurance side of things, I would explain that his role as the "bank" in this transaction would be to ensure that insurance is carried, which he can do by being listed as the lienholder, mortgagee, or additional interest (all the same thing) on the policy.

Only downside is they don't give multiple policy discounts for rentals.

Tell them about your guest policy and ask them to have the tenant call you.3.

I said for me nothing, I don't carry any and you could hear the consensus which was if my name came up don't take the case if the outcome is likely to be a nuisance settlement goal because it is Insurance companies that keep that source of income flowing, and those lawyers that knew me knew my policy was bury the enemy not settle.Continuing ed, I thought this was a good thing.

Make it your policy so if they whine about it say it's your policy and stick to it.