Insurance / House Building

[Carl Millsap]

Hello, 

I have two puzzles I'd like to solve: 

1. Is there a way to have my RE company pay for an insurance policy AND it be tax deductible?

2. Can an LLC build / own a house and rent it to the owner? Or the owner just have use of it? If so how do you set it up?

Background: Listening to someone who is potentially worth a few hundred million say they don't own a house because it's not beneficial isn't logical. So that leads me to believe their company owns the house and they have use of it. 

Thanks