I run a DD-WRT firmware router for my home network. This router has its own DHCP server, provides both 2.4 and 5 GHz wireless AP's, firewall and more features well beyond the capabilities of the Verizon device. Can this type of router be connected to the Verizon MiFi LTE Internet and Home Phone device? Simply put can the Verizon LTE MiFi device be set up in "Bridge" mode?
You want to treat the MiFi as a traditional modem for your home router? That should be possible although you may not be able to get it to work they way you want it to where the custom home router remains as the default gateway for everything.
What MiFi model do you have? we can look up the user guide and review the features that are built in from there. Normally you can manually configure bridge mode by cascading the two devices together.
Linksys has some information about cascading two devices acting like home routers together here:
Linksys Official Support - Cascading or Connecting a Linksys router to another router
It will boil down to if you can disable DHCP on your MiFi model or not. A custom subnet outside of the usual 192.168.1.x is sometimes a problem MiFis cannot adapt to as well.
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