If you can not put mother and child on the street for non payment of rent without emotion you are going to be in big trouble in this business.

A transfer from parent to child without the lender's prior approval is one of the exceptions to the Due on Sale Clause which bars the lender from accelerating the mortgage.

For instance: check out this video.I do think that in the next 3-5 years we will see a great migration of Brooklyn-esque types who can no longer afford Brooklyn, and are closing in on their 3rd child. 

I am kind of the poster child for what not to do as an investor.

It was very interesting but I just had my 1st child and 2nd on the way so I kinda put it on the back burner.Fast forward to 1 year ago, I have 3 kids with my ex wife, 1 step kid with my wife now and starting a new position at the company I have been with for 11 years.

The original interest rate has to be based on prime rate or another accepted interest index like Treasury Bills.Category 2 – individuals, trusts or estate (LLC’s also) – up to three home occupant – buyers per yearno balloon paymentsyou must determine the purchaser’s ability to pay the amount owed- there are eight criteria you have to look at-current or reasonably expected income or assets, current employment status, monthly mortgage payments for this loan, payments on other loans secured by this property, payments for property taxes, insurance, HOA dues, etc. required to service this loan, debts alimony and child support obligations, debt to income ratio and credit history.

(Child gets lead poisoned in your home and you're found culpable and the tenant prevails--typical award is $100,000 per incident...and there is no insurance to cover it.) 

It may be spelled out more simply in the RE statutes, but in the lead laws it says that if the state believes there's a "lead exposure hazard" for a child they can open an investigation that includes "issuing orders requiring the reduction of lead exposure hazards".

But we just had or first child and most likely she is going to be a stay at home mom.  

It's like telling a child no, then they run to daddy because he will give them the answer They want to hear.