The other problems are many banks and vendors do not want to business with LLC's because they feel there is no Personal Liability.

When starting out you try and outsource as much as possible to reduce your liability but you increase your financial risk sometimes because of two many cooks on the kitchen.

What about liability insurance for the office's clients if any?

6) If the home barely breaks even after the mortgage and PM fee, would you suggest additional general liability cover or umbrella cover as the greater priority?

HI Aaron,I have successfully implemented these strategies of exceeding the 10 financed properties limit via utilizing an entity to operate/hold your properties.The guidelines for this have changed over time where you needed to have both the title and the note/mortgage in the name of your entity.What some investors do is they will max out on their 10 fannie/freddie loans and then they will package them up and go to a local bank like lone star bank in TX and get a commercial note at 20-25yr fixed to refi all 10 into their LLC and remove the liability off their personal name/credit.

Liability has to be somewhat high for airplanes.Love the idea though.

Of course you’re also assuming the tax liability. 

Too much liability unless the walls are still open. 

By doing this, you would be deferring your tax liability. 

An umbrella policy simply raises the liability higher than a normal policy offers.