I am a part time teacher and teach both my children. This part is generally OK (writing their reports is interesting though!).
The trouble I find is that it can be very lonely being both a teacher and parent in the same school. I feel I don't fit into either camps and have to be very careful what I say to either group. We were recently told on a training day, never be friends with parents. Be friendly but never friends. In my experience some parents will try and dig for information when I have my 'parent' hat on and it can be really uncomfortable at times. Birthday parties or social events can be very tricky. I have another 8 years of being a parent at this school. It can also be awkward when in the staff room too.
How do other teachers in similar situations manage this situation?