Creditors for future credit applications (such as a mortgage, purchase or refinance) are, and will be, allowed to discriminate on that basis even if there is no FICO impact, just like "declared bankruptcy" or "did not pay court ordered child support" - they can hold those things against you even if you have an 850 FICO score. 

Alas, we are expecting our first child in May, and I'm seeking to transition my primary revenue flow to real-estate.

With the gov't announcing $1,200 per person payments, $500 per child, and expanded unemployment benefits, we believed all tenants should still be prioritizing their rents, immediately after food.

I still feel that it's high but it's whatever you feel comfortable with.  

Spouse and I have comfortable incomes.

I am worried about leaving that much cash in the deal, but I am not comfortable with a large BRRRR project for my first one.Here are the new numbers, do I look to be missing anything?

The first thing I would recommend is that you choose your criteria meaning what class of neighborhood you are most comfortable with.

The former is might go with just two or three LLC and the latter each would have their own LLC.Not to be negative, but you should do what you are comfortable and what you need.

If you're comfortable with the long term play, have some long term hold experience and are confident/comfortable in these questions, I would continue with your plan to hold and rent.

It all depends how comfortable you are.