Why not just get a million dollar umbrella policy for your protection. 

I know the general consensus is that you should have an LLC for protection but I was wondering if anyone decided to forego an LLC (for maybe an umbrella policy) when they had a single property?

.- photos show one unit in good shape (no photos unit 2)- decent size lot, outdoor space + parking - GREAT location- sold AS-IS...the rents are low!

I use the highest possible deductible and attach an umbrella liability policy.Another thing to consider on insurance is if the value is replacement or cash.

.), 2) An umbrella policy for the property with sufficient liability coverage would cover any liabilities arising from a pool incident (or any incident).Are there any reasons why we should not purchase a multi-unit complex with a pool in it?

We decided to go with umbrella insurance rather than setting up an LLC, so I'm assuming that we'd check "individual/sole proprietor" and include personal info for one or the both of us - just wanted to make sure before we send everything off.Unfortunately, the person we're working with at IHA hasn't given a definitive answer, so I thought that I'd ask people with experience.

get umbrella insurance.  

You can buy umbrella policies for at least 2 million for a couple hundred dollars.

Most guests want to be near the action and likely wouldn't be willing to drive the 30 minutes necessary to get out of the Nashville metro to an outlying area.Even so, there are some interesting possibilities outside the metro that could be destinations in and of themselves, especially for outdoor types who would be combining a hunting/fishing trip with some time in the city.If Nashville does successfully ban STR, that would likely drive more demand to the outlying areas.

Just make sure you have a stable umbrella insurance policy, probably$1M.