Depends on what you're doing with it!! lol
I use propane and I keep it in the house. I have a plumbers torch that sits on the floor - it has the nozzle it came with, I use it for annealing and sometimes soldering - I don't use a hose with it.
I use a smith little torch which has a disposable propane tank and a disposable O2 tank. It sits on the bench, has hoses, etc. I keep that inside too.
I also have a box of extra tanks....I keep those inside, in a container, so they stay upright and don't fall over.
Plumbers drive around with them in their trucks....use them all which ways -- stores keep them on the shelves....etc.
use common sense - make sure they aren't leaking (rub a little soapy water around the connections - if it bubbles there is a problem) - don't drop them, don't store them in a bedroom. If it makes you more comfortable - keep it in the garage or outside in a plastic container or big trash can with a lid to protect it from the elements.
(oh and the BIG warnings about keeping it outside normally have to do with the big refillable tanks, not the little disposable ones)