They do not automatically and completely shield an individual from liability.

I'm doing something very similar to this now with a trusted individual who has the money.

Any business related expense that is allowed for a rental activity operating within an LLC is also allowed for the individual who owns and operates the rentals in his/her own name.  

Find out what areas are good to invest in, that can collect the most rent and the crime rate for different areas. look for convenience, sub-way, bus, train, schools, even hospitals ( some people like to live close plus you may get Dr's and Nurses). here is a link that can help if you haven't gone to it yet: http://www.biggerpockets.com/renewsblog/2014/12/26/demographicstelling-real-estate-indicator-analyze-investing/

What has changed materially is for investors to gain access to direct placements in individual projects nationwide using technology and for operators and platforms to be able to advertise their offerings generally.  

I also look for $1 deeds which often times indicates estate property, divorce or split of partnership/family ownership.  

I have been in real estate since 2003 looking to network with like minded individuals to help me grow my business.

I work for a fee-based management company overseeing institutional investor assets, this one in particular is 650+ individually leased bedrooms with all the trimmings.

My exit strategy would be to bring the value up and then sell (assuming the comps are predicting greater value then my costs)  Preliminary research indicates that the cost per square foot may be significantly higher then i would be paying, when all in..Thanks! 

Individually.Are the tax benefits same for rental properties held individually vs. in an LLC.Is umbrella insurance recommended for individually held rental properties.Does the umbrella insurance give the same liability protection that LLC's have.