It currently only has four units rented, although I would like to turn the 5th unit into my own, so that I can move out of my parent’s house and “househack” for a little.

Parents couldn't care less. 

When a child LLC (disregarded entity) is used to hold each property, and all of the tax reporting is done on the tax return of the parent entity, does each  individual child LLC need to file the BOI Report, or only the parent LLC? 

And was your representative able to open the child series without getting a separate EIN from the parent LLC?

I've definitely seen parents purchase properties close to campus to house their kids while they're at school, it's a solid move.

-22 years old-$50,000 pre tax income from business this year-80k in savings-30k in investments-pre approved for $350,000 (had to use parents as co-signers because I started business 2 years ago and didn’t make much first year)Looking to get into first house by house hacking a 4 bed 2 bath renting out 3 rooms.

My purpose behind my decision to pursue REI is to gain financial freedom for wife and I, my future family as well as have the ability to make sure my parents are well taken care of once they reach the retirement age.If I had to label myself I’d want to be known as an open minded rental investor for all long term, mid term and short term investing, with the occasional flip for quicker capitol to put back into another rental.

The terms Subsidiary LLC and Parent LLC don’t mean much on their own—they just describe one LLC owning others.

Think through what your parent or grandparents paid for their house.

Set up an LLC in the property’s state for liability protection, and consider a parent LLC if needed.