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1. You are good to look after my children.

I know that most people will change the above sentence to:

You are good at looking after my children.

But, actually the sentence also has its own meaning and I'm not certain about its real meaning.

My guess is that It is good of you to look after my children.

Maybe I will say so in the following imagined scenario.

My neighbor has helped me take care of my children while I was away on holiday.

So I said to my neighbor: "you are good to look after my children."

What do you think of the sentence?
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I agree with your interpretation, but perhaps the first sentence needs recasting to be more clear, as you said: It is good of you to look after my children.