None have proposed to us a parent / child LLC.

For example: If a tenant applies for a $1,000/month rental and they have gross monthly income of $3,500 they meet the first criteria, but when applying the second criteria you find they have a $500 car payment and $250 child support payment.

I was pregnant with my first child and wanted to find a place that would pay for itself while my husband was in school.

A "kiddie condo" is the concept of buying a residential property with "owner occupied" rate financing made possible by having an adult child living in it, if only while they're in college or single.

Also, child support from the ex would help.

Since your aunt and stepfather currently own the property, Proposition 19 doesn’t apply, meaning you won’t get the parent-child exclusion for tax purposes.

Yet another reason, (albeit not in the top three) why all rental property should be in an LLC with a wife or child as a partner (even .1%) so as to file the Form 1065.Number 1 is liability protection, Number 2 is privacy, Number 3 is ease of transfer for estate planning, Number 4 is possible sale of the LLC to conceal sales price (also called drop and swap), Number 5 is having a single entity for financial reporting, Number 6 is brand identity.

If the loan lasts many years or it becomes a problem child, the points we get does not cover all our efforts.

If you are a spouse, minor child, etc the rules are different than if you are an adult friend. 

My wife is pregnant in her 6th month, we have an almost 5 year old and so my dilema is I don't want to wait for our second child to arrive before we go into Multifamily.