Insurance hardly helps with lawsuits; it helps with the pay outs due but if doesn't stop lawsuits.

It really depends on your long term goals and financial resources.That said, having a lot of equity sitting in a property hurts your returns and makes you more of a target for lawsuits.  

@Ian Barrett, I've probably posted this over a hundred times on the Atlanta forums haha, buy a single-family home with either an in-law suite or finished-out basement/separate unit that you can either source as an LTR or STR via Airbnb.

We plan on living in the home but also building an attached mother in law suite and a detached garage both of which we would rent out for income. 

If you do not - and there is a problem or lawsuit, etc - a judge may pierce the corporate veil since the LLC is not technically a living thing- but just a shell ( nothing happening, no usual business practice of annual meetings, etc).

Every year there are 1,400 TCPA lawsuits https://www.lexology.com/library/detail.aspx?

The property itself can be separated and held in either a LLC or trust to protect the asset from lawsuit and to identify ownership. 

The other room is an in-law suite.  

That's part of it, however, the problem is that these government offices are protecting themselves from lawsuits.

The exemption protects the homeowner from losing his home from lawsuits depending on the state.