We go through a broker and thats always where we land when it comes to price and coverage.

The terms were interesting on this one, because the seller is counting on these payments to supplement his retirement income, so he insisted that the prepayment penalty be equal to that of ALL future interest for the life of the entire loan.

The llc wont offer you absolute protection of you personal assets from liability in case of a law suit. 2 if you decide to refi you will need to switch the asset out of the llc back into your personal name. what is generally recommended in the case of a few small properties, is very good insurance coverage. 

For example, I have seen many people with $3 million in assets and no supplemental umbrella coverage.

Many insurance companies have left Florida and the state sponsored policy has such serious coverage gaps that many may not be able to afford to rebuild.  

Also once you decide whether or not you are going to rent out your home make sure to change your coverage so that it is a landlord insurance policy and require your tenants to get renters insurance with you as an additional insured on the policy.  

(Not giving legal advice I'm an insurance agent not an attorney) If you are sued and they allege negligence on your part they can pierce the LLC protection anyway is my understanding but you have to ask your attorney about that part.My bigger worry is in a claim situation with you having a policy in your personal name but the legal ownership in an LLC is the potential for the claim to be denied (at first) for not having insurable interest - you could fight thru to show you are the owner of the LLC thus the property owner and have an "insurable interest" entitling you to coverage BUT... do you really want to jump thru those hoops if the house burns down?

If you are unfamiliar with the term it is Debt Service Coverage Ratio, a long winded way of saying rents/expenses.

BUT you will have to have some experience in this field these days. usually they will want to see some ground-up construction on your portfolio from the last 3 years, supplemented with maybe some rehabs or long term holds.

if you had to rebuild differently, ask your agent about Ordinance and Law coverage for the additional costs.