That policy extended Liability to the whole property including the rental dwelling. 

Discussed differences between various entities with respect to tax and legal liabilities. 

Try to see what HOA liabilities may be looming.Cap Ex, deferred maint, ask about pending litigation involving the HOA.Litigation will likely kill financing options.

This is especially concerning for me because the liabilities on each unit are about $1,000/month.

Assets MINUS liabilities. 

One is debt/liability, another is asset based which leads to point #22) financial IQ/literacy/intelligence is important as you deal with different demographics or target audience/client - single family consumer, investor of all kinds, hotel, bankers, lenders, regulations and putting all of this together for your target audience/client.

The benchmark study done by the Profit Coach guys and sponsored through NARPM, really highlighted how many PM's across the country were losing money providing their services, not to mention the liabilities they were absorbing for their clients. 

If you take out a mortgage personally and transfer the property to your LLC that you control, you should be exempt.Also, if your loan was conventional; Fannie Mae recognizes the legitimacy of a QC between the mortgage holders and the LLC so long as the LLC is controlled by the borrowers; If the property was owned prior to closing by a limited liability corporation (LLC) that is majority-owned or controlled by the borrower(s), the time it was held by the LLC may be counted towards meeting the borrower’s six-month ownership requirement.

However, insurance is limited because it only protects you from one type of liability: accidents/negligence.

You don't need to answer this on here, but do you have any small accounts that can be paid off, lowering your monthly liabilities?