If he is an only child and he’s ok with it there’s less chance of a family squabble.

I've been going back and forth considering househacking a 4plex with an FHA, or doing a live-in BRRRR (unsure of financing.)My wife and I have a 6 month old daughter and perhaps will have a 2nd child by the time we are ready to close on a deal.

What little I know about problems like this is that it's rarely an easy fix.My parents had sinkholes in their backyard (in NY) because when the house was built they backfilled the swamp with old logs and stumps, and covered with a few feet of dirt. 

The only thing I could think of is if my brother or parents, who still live in OH, become the LLC member(s) but I don't really want to put that burden on them (and not sure if that is even "legal").The other option it seems that I'd have to go with is an Umbrella Policy which should be cheaper, when compared to the LLC and the dumb CA tax (but I do not have an Umbrella quote yet).Are there any other reasonable options for coverage against your personal property/financials in case of legal issues?

Morgantown is great for 1 year lease rentals for students, but the short term rentals would be limited to football season and parents visiting their children at WVU.

If however it is a (parents want you to do something with your life theme) and you could rack up tons of student debt with a degree that doesn't pay that much money than that could be a recipe for disaster.You have to decide if you want to live in the matrix with the herds or outside the matrix.  

You could get a parent or someone to co-sign the loan. 

I fell into real estate investing after aquiring a condo in downtown Denver from my parents.

Hey @Luke Hayes, I haven't had a positive custom building experience, but I can give you the major critiques based off of my parent's custom home fiasco and a client's failed semi-custom home. 

My parents actually helped me with this recently.