I am not sure if that's what you were alluding to in a prior post. 

The better way to protect yourself besides having and LLC is to have the highest liability coverage on your landlord policy and follow that up with a 1-5 million dollar umbrella policy.

A simpler option that for some reason never seems to be discussed: with your rental properties in your own personal name, purchase a liability umbrella policy from your insurance company / agent.

That’s a good idea for checking the policy.  

On the HUD website it says only that: At least 80 percent of the units must have at least one occupant who is 55 years of age or older; andThe facility or community must publish and adhere to policies and procedures that demonstrate the intent to operate as "55 or older" housing; andThe facility or community must comply with HUD's regulatory requirements for age verification of residentsThis all seems a bit too easy to me, but can't really find step-by-step directions anywhere to do this.

For what it's worth, the tenants do pay a fixed utilities charge of $125 charge combined per month, which is included in the rent number I gave you (I checked with the city prior to buying, who told me the previous 12 months bills had never exceeded $135).

@Ryan P. 1) I would refrain from publicizing how much money you have to invest2) I second what @Ian Ippolito recommended in terms of looking into various strategies3) prior to investing into anything, educate yourself and talk to others that have invested in the niches you're considering to ensure these are the best options for you4) food for thought, if you keep your house in Miami as a rental for some time, you can then sell it as an investment property and exchange it (1031) and buy into DST.Best of luck!

* Do you provide move in and move out reports * How many pictures do you take of the property prior to tenant moves in and after the tenant moves out* Do you get weekly reports when the property is vacant what prospective tenants are saying about your home* Do you provide monthly newsletters to your tenants* Do you hold investor education classes to help me become a better investor* Do you have single point portfolio based management services?

I'm deciding between an LLC and an umbrella insurance policy to limit personal liability. 

You are going to spend a lot of time on obtaining a mortgage, finding properties, getting insurance policies, hiring a property manager, etc for $150/month.