I think there are situations where it might make sense (this is not advice its just hypothetical):1) The investor in question either has good asset protection or little in the way of assets/income to go after.

I have never done this before and am looking for some tips on liability protection or any other useful tips you may have for me regarding this.

Then you may want to consider additional personal liability protection or a separate umbrella policy for a $1M-2M is sort of standard depending on your net worth etc.3.

But NO “Assessment limit” protection….You can see here a list of ALL states and whether they have this cap protection or not…https://www.kiplinger.com/taxes/property-tax-cap-by-state#:~....

You'll have to decide what's more important, having asset protection or having 100% assurance that your note won't get called.Short answer: consult your attorney.

Just another example of more conflicting info, though, as you're telling me it's possible while @Kory Reynolds says it's not, and you both seem to have tax credentials.I work with Anderson Advisors, who is supposed to be tax / real estate specialists, yet when I speak to different people within their group I get different answers.I've talked with KKOS Attorneys (Mark Kohler) who is also tax attorney that specializes in real estate, and again, I get conflicting answers.I talk to local CPA's and attorneys who yet again give me conflicting answers.Do I just pick the one that says it can be done and make sure they'll back me up with some sort of audit protection, or what do people do when they HAVE spoken to the "specialists" and keep getting different answers?

It is bad enough to have one for each series of properties.That said search on Trust or LLC here and you will see it is an area where many have different ideas and the strategic set up between them seems to be different depending on which "expert" designed the strategy for asset protection or probate or?

@Jack Taylor - if you are more of a visual person, here are some diagrams that might help you further on this quest: Asset Protection Decision Diagram - to help assess the need for asset protection, and what to implement: https://www.biggerpockets.com/files/user/CosIorg/file/asset-protection-decision-diagramAsset Protection Onion Diagram - what, when, and at what cost one should implement in terms of asset protection - https://www.biggerpockets.com/files/user/CosIorg/file/asset-protection-onion-diagram-v2What is needed for complete asset protection OR the domains that need to be intersected to find asset protection - https://www.biggerpockets.com/files/user/CosIorg/file/asset-protection-spectrum-diagramHow a fully implemented asset protection layout might look. - https://www.biggerpockets.com/files/user/CosIorg/file/asset-protection-structuresIf you want more details, from an investor perspective, PM me. 

Is it better to move it under LLC for better asset protection or just purchase umbrella policy

There is risk to the seller of legal or regulatory action if the buyer, for instance, violates certain consumer protection or mortgage servicing rules or laws.