I am very confused what a 401k trust is because I don't see it listed in the types of available trusts below.https://wyomingllcattorney.com/Wyoming-Asset-Protection-Trus...I know land trusts don't offer liability protection if the tenant sues the trust's beneficiary.

Second, Maybe drop insurance from cabins and only insure the high value buildings and have an umbrella policy or something to cover general liabilities etc. 

I have well over that in personal policies, plus a blanket liability policy riding on top of it.

Contrary to what you may hear, I do believe that you should have properties in LLCs, for reasons I won't get into here, but let's say I sleep well at night having full first-hand knowledge of litigation procedures and knowing that if my real estate endeavors fail, it won't be due to collapse from liability.

To scale your rental property portfolio, start by purchasing properties under your name to secure the best financing rates, then gradually transition them into LLCs for liability protection as your portfolio grows.

What will happen when you ask for evidence of his liability and workers' comp insurance?

What I did on my last STR acq was to increase liability to $1M (PP was ballpark).

This is different from homeowner’s insurance and will cover things like property damage, liability, and loss of rental income.

The Assisted Living Facility will have insurance and $1M in liability coverage.I called my current insurance and they told me they would no longer cover if I rent to a business like this.

I can’t speak on behalf of a short term rental, but for a straight rental, you’re probably better off filling it in IMO.I had a house with a pool in an c+ area and after considering it will probably just invite parties, etc. plus the liability I had it filled in.