And we have the rental insurance and the umbrella policy on us.( P.S.

Is it better to place them under LLC’s or hold them under your name and then carry an umbrella policy to have more liability coverage?

If you're worried about the liability issue, there is no need for an LLC, just get an umbrella insurance policy that will cover you (basically same thing as LLC).

You simply need to get an umbrella policy for liability purposes (same protetion as LLC) depending on you running the risk of getting sued and if you have a lot of personal assets.

However, with a single-family home, especially in Class-A/B neighborhoods, the tenant covers all of their utilities and as for insurance the landlord probbaly has an umbrella policy on the property.Many thanks,-Eric

I am very much an aspiring investor in Grand Rapids and West Michigan and am checking off my list of needs (CPA, PM, capital, lending etc) but one area that keeps tripping me up is asset protection (i.e. umbrella policy only vs LLC).

@Jon AllenThe implementation of the LLC under the umbrella of the IRA does not change the rules in any way. 

I know I need to put something in place to protect myself and a prior post brought up umbrella insurance policies as a better alternative to an LLC for a smaller investor like myself.

None of them are in an LLC but are insured and also covered under a umbrella insurance plan.Am I missing something?

Protect yourself with an umbrella liability policy if you're concerned about being sued.One girl's opinionStephanie