My question is do I need to have a separate bank account for my LLC in New Jersey? 

As I've mentioned in a prior post, I've become unemployed in my industry of 17 years (banking - mostly in marketing analytics, market strategy and operations strategy - analyzing where to place new and close offices, etc based on market potential), and am considering a career change to maximize my future.

I don't know if the bank takes that option (line item) into account as the total insured amount.Anyone?

A smaller bank or credit union is typically more flexible, so I'd try calling several of them if that's what you need. 

We did our first two with 10% down no PMI through a local bank.

I've attached the cash flow analysis for anyone wanting to give me some advice.

The bank may not allow this, im not sure.

As for your lender question, you'll probably hear a lot of people suggesting small local banks.

We would have bank statements, 401(k) statements, tax returns, etc. that would show our current assets.

The government can put a lien on your assets, and banks don't like to see that.