So is having a child and needing a bigger place. 

This year I have signed leases with 2 different tenants who have a small child.

One million is child’s play!

My question is should we start an S corp with child LLC's for each property or start out with an LLC? 

Not sure if the same will apply to an adult child.

Balancing work and family will get a little easier once your 4 year old reaches pre-k and you guys start to have time to focus on the newborn and your REI goals.Its not going to be easy but once you and your wife get on the same page, you will be amazed at how much you will be able to accomplish.  

My Mom just passed away (I’m an only child and she had a brutal death; I was her primary caregiver with little kids in tow), this is my childhood home, and this tenant is clearly a con artist.  

If they're your parents, or a child, that's one thing, but owning rental property to supplement someone else housing costs is not a good investment strategy.

That is my opinion.If you add more homes to your portfolio, I would look at setting up a series LLC with each unit in it's own child LLC.

I decided to do this because I always was fascinated by real estate since a child, and I believe in taking calculated risks.