Maybe look into an umbrella policy with your insurance company to provide additional protection as an alternative, when you begin to grow.

Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is likely to be higher, then you may consider an umbrella insurance policy.

Heck, you'd be in your speedo drinking umbrella drinks with the ladies for the rest of your life already. 

So, if you have other capital with which to start and operate the new fund, that may be the better plan - and you can leave your Solo 401k focused on things that grow within the tax-sheltered umbrella of that plan.

Or does anyone have insight if an umbrella policy is sufficient?

I have however received one unsolicited offer for financing from at least one "lender" on the site who does not appear to be within the CIX umbrella that had laughable grammatical errors.

However, I am not sure that I can put a house that is in a trust inside of an LLC, so is my only liability option here an umbrella insurance?

I am thinking some sort of umbrella policy for private property might be a good place to start that would allow us to continue hosting these events without having to transfer the property title to an LLC, especially since we are not going to charge or monetize the concept. 

There are some very good threads on these forums that speak directly to your question if you search LLC vs umbrella or just LLC and see what comes up.  

I run 300/300k as it’s required for my umbrella policy, the premium change is tiny.