Just happened upon this thread. Overall I'm not clear if we're talking about rental property, flipping property, or both. I get the impression it's a bit of both. I'm also of the impression that your acquisitions were more opportunistic than anything else.
If you're not "in the business" of flipping property (with no days rented), then establishing an LLC or any other business type for the activity really makes no sense. At best, if it was you and another person (not married to you) doing this, you might consider a partnership. But that's only for tax purposes and really has nothing to do with the liability factor.
You'd be better off with an umbrella policy at a minimum of $300,000 per property. Higher, depending on the location.
If you're looking at being a landlord, check out my notes at burchrentals dot dynu dot net foward slash Rentals/Rental%20Property%20Management.docx
It's a word document that documents all I've learned over 30 years of being a landlord.
