How do you protect yourself when buying <5 unit property?

[Kyle Joseph]

For those that have purchased a rental property 2-4 units, how do you protect yourself from liability given that you cannot purchase the property with an LLC using a conventional loan? Do you use an umbrella insurance policy? Is there a way by which you can ultimately get your property into an LLC without violating the rules of the loan?

Thank you,

Kyle

[Pat L.]

Umbrella with max liability coverage & it's usually cheaper than running & filing an LLC yr-yr.

Once they are paid off move them into the LLC, if you still think its a good idea, or just strip the equity.