Hopefully you have an umbrella policy to protect the rest of your stuff. 

And to be safe, I'd make certain (if you haven't already) I had a good umbrella policy to cover potential damage in the event a tree lands on his yellow Corvette. 

Or, is it worth just getting an umbrella policy to cover all properties?   

You gotta be like a duck with an umbrella, let that stuff just flow off your back. 

I can easily refinance it, cross collateralize it, etc.I am personally picking up a million dollar umbrella policy this year for the first time.

Also, make sure that you are placed as additional insured and have your own umbrella policy. 

As I grow I need #1 a umbrella name for the company and also wondering if I need to manage under my own account or if allowing them to have individual accounts is better.

I copied the definition as to avoid confusion..hope you don't mind)Utilize IDHA assistance program to put down 1% of purchase price*by using this option it leaves all my remaining savings available for PITI reserveAsk the Seller to cover the closing cost OR have the closing cost included in FHA loanAfter closing on property get insurance (umbrella too!)

for your situation, you definitely don't need LLC only for a multi unit, just get umbrella insurance to cover it.

I do plan to hold it in an LLC, have good insurance and umbrella as well. 3) Older homes in PS - most of the homes in PS are built in the 40s-50s and for those that own them, do you constantly run into issues with major ticket items - plumbing, electrical, etc (things that are not visible to the naked eye).