Been keeping a small flock for years. I think it's well worth it for the egg quality vs store bought. PS you either do it for meat or eggs, not generally both. Completely different breeds. Egg breeds don't have much breast meat and meat birds are typically slaughtered before they start laying eggs.
As for predators, we have hawks, owls, cats, foxes, coons, opossums, and in the six years I've kept a free range flock, I lost one to a hawk during the day, and one to a coon. The coon lost hen was killed only because the hen chose that night to roost outside and I missed her at the head count when I locked them up at night. Generally they put themselves to roost at dusk and I just lock them up at night. During the day they roam within a fenced in back half acre away from the house. Clipping their flight feathers will keep them from flying over the fence and getting near your home.
