I have 2 homes and other interests and am planning on starting a business...I am fairly certain I should start an LLC however

I think adequate insurance is first and foremost important in terms of liability protection. Make sure you understand what insurance coverages are available. A good insurance agent should be able to explain all of your options. The second layer of protection is to set up an LLC or corporation, which provides liability protection to the extent of your ownership interest in the entity. As such, each property and each business ought to be its own LLC or corporation. Typically, passive investments such as real estate holdings are held in LLCs, whereas operating businesses are held as corporations. Your CPA or tax attorney will be better able to advise you of the best structure to use.

What kind of business is this? A business needs lots of legal protection, and a business entity is just one of them. Yes, an LLC or a corporation is preferred when you have personal assets to protect, and you have to observe the requisite corpoate formalities to maintain the corporate shield, which means adequate capitalization, separate accounting and address/phone/email, no commingling of funds, etc. etc. That means hiring a good CPA to handle the accounting to make sure that's dine correctly. Your business also has to guard against contract and tort liability, which could apply to you as an individual even with a corporation or LLC. It may also need liability insurance, as well as appropriate disclosures and disclaimers in what it does. It needs proper contractual documents with its vendors, lessors, employees, manufacturers, customers; it needs to acquire and protect a viable and available trademark and domain name. See a business lawyer NOW before you make these important decisions. Also you may want to get and read the "how to" guides linked below. Disclaimer: Please note that this answer does not constitute legal advice, and should not be relied on, since each state has different laws, each situation is fact specific, and it is impossible to evaluate a legal problem without a comprehensive consultation and review of all the facts and documents at issue. This answer does not create an attorney-client relationship.

An LLC and liability insurance are not mutually exclusive. With significant assets to protect, you probably should do both. Disclaimer: This information does not constitute legal advice and does not establish an attorney-client relationship.