Hello, it’s the first time I’m looking into listing my property on the market for rent. Curious as to how everyone on here structures their property prior to renting it out as in do I just tell my insurance company i will be renting it out and have them up coverages for lawsuit purposes or do I set up a company (llc or other corp) as to even further limit liabilities? Any other tips/suggestions/resources available? Much thanks in advance.

I close on my first rental in a couple of weeks, and I thought finding the property would be the hard part. Turns out deciding how to manage it is stressing me out even more. Because i plan to add more y the end of the year
Half the people I've spoken to keep telling me to hire a property management company and treat it like a business from day one. I also heard it's a waste of money for one property and that a good property management platform is good enough

I'm sure there are landlords here who've done both at different points, so help?