if you do and go to change the Deed to the property to say the LLC now owns it AS @Deren Huang suggested, that could trigger a due on sales clause in your loan agreement. some banks may look the other way and not worry about it, but there may be a chance that if you do that the bank can call the loan note, claiming the property was sold and want the loan paid. but with out changing the deed forming an LLC would be useless for it's protection because the house would still be in your name. then you might as well leave it under your name and get an umbrella policy to protect you as Account Closed suggested.

I have read about doing a "Quit Claim Deed," and was wondering if anyone could give me any advice on this?

Do I tell him to get a quit claim deed from the actual deed holders before investigating the properties?

It is under my name and not an LLC, but I plan to create an LLC and quit-claim it very soon (any advise on this would be greatly appreciated).I have been using my personal checking account to pay for maintenance, repairs, etc.  

Send a certified letter requesting it and include the state law: If he doesn't respond accordingly file for a small claim judgement of 2x the deposit.

That policy will pickup if the Liability coverage of the underlying policy is exhausted by a covered claim. 

Apparently the seller of the property has claimed bankruptcy.  

Arbitration and mediation are other methods of resolving disputes about the condition of a rental unit (see page 48).A tenant has another option: filing a lawsuit against the landlord to recover money damages if the landlord does not repair serious defects in a timely manner.119 This kind of lawsuit can be filed in small claims court or superior court, depending on the amount demanded in the suit.If the tenant wins the lawsuit, the court may award the tenant his or her actual damages, and “special damages” in an amount ranging from $100 to $1,000.120 “Special damages” are costs that the tenant incurs, such as the cost of a motel room, because the landlord did not repair the defects in the rental unit.

Hello,I have a tenant claiming termites are coming out of her bathroom vent.

If the PM is listed as additional insured then the insurance company must defend both of you in court on the liability claim.