This is when you buy a primary residence (1 to 4 units, the more the better) which you can usually get for a very low down payment and get the best interest rates on and then rent out other units and/or bedrooms within your unit to pay for the mortgage and other expenses.

Put the profit towards a new Primary residence and ~$50k towards a rental property.2) Rent it out and eat the cash flow loss, hoping rents increase.

Also should I send him a notice at one of his old residences ?

Find out what their actual infrastructure is in person and how they are set up to serve you as an investor and also the residents occupying the properties they manage. 

I am new to real estate investment and planning to start ramping up long term rental properties in 2025, however my first two primary residences were both converted into MIL's and rented within months after closing which effectively followed the House-Hack tactic (we currently rent our furnished basement to primarily traveling nurses for 3-6 months at a time which covers 70% of our mortgage).

.: There are companies that provide this and I even believe some do a revenue share with apartments.We had looked into this a while back for some of our properties.Not a bad revenue stream and a nice little perk to have new EVs charging near the clubhouse/office where new prospective residents can also see them. 

Did you know that you can acquire your a primary residence from up to 1-4 units for as low as 5% with conventional.

A steady annual growth rate, diverse industries, and affordable living attract residents.

The best strategy depends on your goals, but here’s a breakdown:Selling outright would result in paying capital gains tax and depreciation recapture, but since the appreciation is minimal, the tax impact may be relatively low.Gifting the property to your son could potentially allow him to sell it with a lower tax rate, but since he hasn't used it as a primary residence, he won’t qualify for the exclusion of capital gains tax on a primary residence, and you'd need to account for gift tax implications.1031 exchange could defer taxes, but you would need to purchase a like-kind property of equal or greater value and meet all the IRS requirements.

If you are closing on a property that you will reside in, can you close it in a Trust, or do you have to close it in your own name, and then later transfer it into a Trust?