I wonder if I have a lawsuit?

People who do a an LLC online without an operating agreement likely won't survive a lawsuit if one is ever cast their direction. 

If the insurance company asks if you filed a small claims suit, be honest and so on.If you win the lawsuit, and collect, you will likely owe that money to the insurance company.

Get yourself trained and save the $100,000 you'd spend on lawsuits.

We don't know which lenders will chase you or file an adversarial lawsuit or how many more payments in the plan and many other pertinent factors. 

Audit insurance does not guarantee that you win an auditIt would have to be an enormous rock for you to hide under if you have not heard about "no-brainer" lawsuits that were somehow lost in the courtroom.

So, if a lawsuit runs $50,000 (typical number) then having that amount or more equity in a single LLC might not make sense.

Your agent is looking for a solid law suit.

Now you are growing your real estate empire, increasing your cash, increasing your equity AND the leverage reduces the target for all those lawsuit risks that made you look at umbrella insurance.Rock ON!

If someone tries to institute a law suit for any reason, you will be better protected on privately owned assets.