Definitely have as many of the safety measures as possible.Make sure you have the correct STR insurance with pool coverage.Have in your rules more CYA things like Parents must monitor children under the age of X at all times around the pool etc.Vrbo allows for digital acknowledgement of your rules.

Unfortunately, Multifamily is rare and pricey in the Houston area - or in if it is affordable, it is in areas that aren't ideal for a house hack - What I am advising my children to do (they are in similar situations as you) is to buy single family and rent out a room while you are living there and then transition property number one into a full-time rental and move to your next single family house hack.  

Familial status has to do with children, not spouses or unmarried couples.

Probably to protect (financially) your wife and children should you die prematurely.

You need to clean house not house children.

Evict, repair, sell.If you're intent on keeping the house in IL, evict, repair, hire property manager, rent.I love my family and friends, but the only people I'm going broke for are my minor children. 

Divorced fathers often have to pay substantial child support when there are children, so you want to understand whether that will be a possibility. 

You'd even be able to build your children's IRA, College IRA, etc. tax-free - if you knew how.

My wife and I simply seek financial liquidity in order to pay for my children's college tuition along with the opportunity to teach my children on how your money can make money for you.

They’ve owned the home for many decades, and the mother always hoped one of their children would move into this house, the “family house”. 2 of the 4 siblings live very nearby and if moving back into the family house to keep it in the family were something they could afford today, they’d each strongly consider it.