it won't do him/her any good.... you see numerous examples of rich people donating 100% to charity, why - because they see there is very little good an inheritance can do to a child.
enjoy life and the time growing up with your child(ren)... that would be my priority one.... taking time away from your own child to serve the tenants? that sounds backwards.
taking calculated risk makes sense..... if stocks are expected to return 10% while the home loan interest is only 5% before tax and maybe only 3.5% after tax deduction, then it makes sense to take on some risk without taking time away from enjoying hobbies and time with your child.