Theoretically, if you're home (asset), is in an LLC, then the extent of your liability is what is held within that LLC.So here's the solution, you can purchase a home in your own name, get a mortgage for the home in your own name, then transfer the asset to an LLC.

(I understand there is a wide range of variables that would dictate the the answer, but I’m curious to know people’s general opinion)

While looking for my next SFRs, I ran a cross a well maintained double-wide mobile home that has been sitting on the market for a while.

A Little Back Story : So i have a friend he is CEO of big company (all over the world) he has a few planes very well off but down to earth i have known him for quit a few years. he has a background in real estate (not sure to what extent) but he mainly owns commercial. i am a contractor and do a lot of work for him on his personal house, lots of his properties, some years probably close to 100k a year.

I am fairly sure they are nation wide.

Getting the property condemned may be possible by offering evidence of a wide number of technical defects even when the property is generally habitable. 

HOA fees are also very common, the cost and what is included vary widely so be sure to find out.

@Stanley Bronstein state laws and regulation vary so wide on these issues. 

I had multiple professional opinions with a wide stretch of estimated repair costs of $20k~$35k.

There is a wide range of possibilities, each person will recommend their own specialty, you must research to find your own.