Considering adding umbrella coverage would cost a fraction of the franchise tax in California, does it really make sense to pay an extra 800/year per property for separate llcs? Is the risk of being sued for some freak accident that happens on one of your properties really worth all the expense of the llc? If you already have several million in insurance coverage, what could realistically happen that would blow through that amount, the entire value of your property and then spill over onto your remaining assets? Are there really bands of lawyers going around door to door creating fraudulent slip and fall claims? Any help on this would be appreciated.