House hack vs LLC dilemma

[Account Closed]

Hey everybody, I love the idea of househacking and I have been thinking about living in a 4plex with an FHA/traditional mortgage, but I am extremely hesitant about being personally liable to lawsuits & having my personal assets exposed. I would much rather go through an LLC. Assuming I have enough down payment for a 5+ small commercial multi-family, would "househacking" a commercial MF property be the best of both worlds for me?

Could I live in one unit of my commercial property?

Am I silly to assume that there's anything to worry about beyond a personal umbrella policy on a 2-4 unit? I know there are multiple schools of thought. 

Asset protection is very important to me. I'd like to hear your real-world experience & advice!

[Danni Catambay]

Can I bump this thread? I have exactly the same question: What are the concerns and challenges with house hacking with regards to personal liability? If you're qualifying for the mortgage based on your personal credit, can you still own the property through an LLC? Does it make sense if it's your first investment?