Our issue is that the shape of the counter top is very custom and to replace it would be custom. 

Exhaustive due diligence and conservative underwriting should protect you, but stuff happens and there are things that cannot be predicted. 

Licensees should not distribute smoke detectors with removable batteries to clients or customers after April 1, 2019.

I want to make sure my assets are protected so I would like to know some opinions on what types of insurance I should have and when it makes sense to transition to a LLC because I currently own the properties personally.

Having 5 units also does give you some protection if 1-2 units have tenant issues, which is good.The estimated closing costs of $3,000 seems a bit low to me, but that certainly varies widely from lender to lender and from area to area.

My point is that for effective asset protection an atty specializing in asset protection designing a continually changing plans is necessary. 

If something were to happen on my property like college parties, is that normally protected under a good insurance policy?

At the city council meeting last night, there was a lot of talk about the Bert Harris Act/Private Property Rights Protection Act, and the number of lawsuits that would follow in the wake of this ordinance if it passes.

There is so much demand on their plate right now, they are having a hard time keeping up with orders from repeat customers who own parks in major MSAs. 

If you have the itch and appetite for development then maybe you go the route of developing it yourself and finding a good civil engineer and custom home builder.