I wonder if anyone can give me your feedback on umbrella insurance State Farm called me and told me that I should open a umbrella policy for my rental properties 

I am very new to real estate investing.

I am very new to this but have read about half of The Book on Rental Property Investing. 

Is there anything I should/shouldn't do with this purchase in regards of my mortgage, down payment, etc. that will better prepare me when I look to purchase another investment property?

While it may only cash flow a set amount each month, don't forget that the principal on your mortgage is also being paid down and (in the long term) the value of the complex is going up.Are you able to invest that money elsewhere (factoring in cap gains or 1031) and do better?

Happy to connect and assist you in your real estate investing journey.Happy to connect if you are interested to expand your portfolio@Carlos Valencia @Albert Bui

And even then, those really experienced folks are able to raise capital by hiring intermediaries (aka brokers) who are specialists at putting together the capital stack (equity/cash from the LP/investor + debt/lender + co-invest from the GP/developer). 

I locate in Bay Area and also consider OOS investing.

In the longterm your better off buying a solid property, 3-4 units if you can qualify for it, and getting started vs looking for the perfect deal for years that never comes.

Investment Info:Small multi-family (2-4 units) buy & hold investment.