Our neighbors have to Rott's. They keep telling us how sweet and lovable they are, nevermind the fact that they continually attack other dogs in the neighborhood, including our 10 lb dog--TOTALLY unprovoked. Oh, yes, they are sweet dogs, unless they get out and attack other dogs.
Those Rotties have not been properly socialized and are a product of an irresponsible owner. They may be sweet dogs to people but unless their prey drive has been put into check those owner have not done their job properly (probably because they don't know what they are doing anyway).
Rotties are amazing dogs, they are smart, quick to learn and lovable.
Now that being said....They take alot of work, they are naturally protective and aloof dogs so they must be socialized early on. If you do not know what socializing a dog entails then please research to see if you and your family are up to it because it is a lot of work and it is important for the first 2 years of the puppys life.
You said you have 3 small children, will the dog live in the house with you or will it live outside? If it is going to live outside then you may not be able to devote the time needed to the puppy. Rotties want to be with their family and become very distructive if left alone for long periods of time with no iteraction.
If you plan on having it inside you should look into crate training, that's how I've trained all of mine. When you have the dog inside you are able to interact with it daily and teach it continuously.
Having kids in the house at the same time really wouldn't bother me, yes you have a puppy who could knock them down but you will teach the dog that jumping is not allowed and stop the behaviour. The dog will "get it" quickly. Also in the begining while this is happening the puppy will only weigh between 15 to 40 lbs and will be a managable weight while it learns jumping on people is not permitted.
All that being said....dogs are like people and we are all different. I have had 4 Rotts in my life:
First: Was great (this was ages ago).
Second: Was the best dog I could have ever asked for. I had her for 11 1/2 years and lost her to bone cancer in April and I still cry over her.
Third: A rescue Rott who is 10 years old next week, she is a wonderful dog but suffers badly from hip dysplasia & her time is almost up.
Fourth and current dog is an 11 month old/105 lb puppy the vet expects her to max out at 120 -130lbs. She is soooo different from the other Rotts I've had and makes everyday an "adventure". She is alot of work and I tell my husband all the time that if she had been our first I never would have gotten another. She's a great girl and I'm finally seeing the light at the end of thetunnel but somedays she is just so much work, very inquisitive and to smart for her own good sometimes but very lovable!
I hope I helped and feel free to PM me if you'd like.