The LACs that have closed their doors are not a reflection on all LACs. It’s a good idea, but look at the endowments closer to the time.
I personally think it’s much too early for you to be thinking about colleges now for a child who isn’t in high school yet. Your child is going to change a lot over the next few years. In fact, with both my son and daughter, the vast majority of colleges that we considered just a year before applying didn’t even make the final list. And once decisions came, a few colleges that had been applied to fell out of favor. At this point, it’s probably a waste of your time. Sophomore year of high school is commonly a time to start thinking about it, with most students giving it serious consideration in junior year.