When I tried to get it when my side of the family found out and tried tp take over reverse mortgage payments to bank because she had died it was to late so they sold the house to Hud and then other reverse mortgage companies but a relative still lives there so they can't kick them out.

@Jerry Zigounakisi'd pick a market close to you, or one you have strong ties in, rather than trying to get to one via math.can you invest where you live, or 1-2 hours from where you live, or where you like to vacation, or where you went to college, or where you plan to move someday?

Let me preface my story with my definition of freedom: doing what you enjoy for a living with the people you care about.My name is Peter Neill.

My wife and I use to live in central GA and in North Carolina but moved out to Arizona a couple years ago.

I currently live in Michigan. 

Is this a home that you are currently living in?

For the son to qualify for the $250k exclusion, I believe he would most likely need to meet the ownership and use test, meaning he needs to own and live in the home as his primary residence for at least two of the last five years before the sale.

Quote from @Isadore Nelson: I recently acquired a property with an existing tenant who has been living there for about four years.

Will you potentially be more at peace if you sell and buy an investment property that you have never lived in personally?

In the unlikely event that you are the exception that proves the rule, the rare 18 year old who can actually generate a serious income by wholesaling real estate, your day to day will look like the following: - You will door knock, cold call, send mailers, and otherwise create lists of people who are in the most desperate moments of their lives.