Now I read somewhere that if my mortgage is still in my name, and not transferred to the LLC name, then its of no use and I will not be protected from litigation. 

You can refinance using a Fannie Mae loan in your personal name and then transfer title to an LLC that the borrowers on the loan are the majority members of the LLC.

I think you are over thinking this transfer of ownership.

The reason why is because you can track the transfer of value sent from one address to the next.

Many who bought Harbour loans were contacted by the Attorney General (and ones I know were required to modify the loans with lower interest rates and transfer them to traditional mortgage and note).For those that have been following, there is another suit pending against many of the bigger players like Vision, One Pine (part of home opportunities).

Hi guys, do I understand correctly that in order to protect myself better I should:1) use a special warranty deed to transfer a property from my personal name into an LLC?

I'm a tax accountant in Australia with a strong background in property investment here, so pretty knowledgeable of the general gist of property investment and given my current investment strategy and goals I've ended up looking towards the US for my next, hopefully, few investments.I'm looking for buy and hold investments with good rental returns on them on low cost of entry.The basics of my situation are that I'm a US citizen who has never lived/worked in the US, have a stable job with reliable income in Australian dollars (the exchange rate is brutal these days!)

It is not in a flood zone.Initial plan (could always change) is to keep the park owned homes, purchase new mobile homes as good deals present themselves, place them in park, offer a lease to own option to new tenants, transition to lot rent once the mobile home ownership transfers to the tenant.I believe I can get this property for at least $235k, likely a little lower.  

I don't ever transfer money in/out. 

@Paul Ellerbusch Assuming your conventional loan is Freddie Mae, most likely, they specifically allow you to transfer title into a single member llc, keeping the loan in your name.