How can I replace a node reference field with a node edit form? I have two content types - parent and child. There is a one to many relationship (many children to one parent). I am migrating this content, and the current situation is that that node reference field is on the child, pointing to the parent. However, I may be able to change this to have a node reference field on the parent set to an unlimited number of items (though its probably better if I keep the existing "schema" to avoid problems after migration). 

I would like to create a node edit form for the parent. In this node edit form, I want to have the child node edit form embedded on the same page, either as a replacement for the node reference field, or as a view displaying node edit forms of existing children of parent. I will create an interface that displays the child node edit form(s) when the user clicks on an accordion-like button at the top of the form, and beneath the form, a "Add another", which creates a new child node add form.

My first thoughts are to over-ride the template of the node reference field to embed the node edit form in the theme. However, this method seems to have potential side effects that have to be dealt with, as the current "schema" is the child nodes pointing to the parent nodes, which I prefer to keep.

My ideal solution is to use panels, but after playing with panels and doing some googling, I haven't found a solution that is specific to my needs. 

How do I embed the form (either an existing node edit form or a node add form with a node reference field pre-populated) using panels? Is that even possible? If not, what is the best way to accomplish this?
You can achieve this by Installing Entity Reference and Inline Entity Form