If there is a benefit to this regarding asset protection or anything else.

The landlord may enter the dwelling unit at any time for the protection or preservation of the premises.

But, if you dont have a homogenous portfolio, ie a 1 million dollar commercial building vs 3-50k SFRs, you may want to have stronger protection or separate LLCs because of the unique exposure differences as well as asset loss potentials.  

Thus, if the lease is written between ABC LLC & Tenant rather than Owner & Tenant, will this provdide any sort of protection or added tax benefits? 

If each of us signs title on a property is that sufficient protection or would an LLC be more beneficial?

Rich, i would look into that more, i believe that Pennsylvania does not recognize Land trust when it comes to Real Estate and will not offer you any protection or very minimal protection.

I've been researching the required documentation/paperwork/publications and feel that I have a handle on what is required.Is there any more/less protection or something the lawyer can do that I cannot?

Which would you rather have -- zero protection or a presumption of protection?

My next big decision is whether to pay off the mortgage aggressively and move the house into an LLC or corp for financial protection, or if I will go with an umbrella insurance policy and continue to invest in new properties.

You can easily transfer title to your LLC shortly after purchase.From what I've heard, land trusts don't provide any asset protection or tax benefits as an LLC would so DEFINITELY speak with an attorney before going down that road.