Quote from @Christina Weaver: Hi, @Steven Hamilton II  my husband and I live in California, a community property state.

Return:Finishing the basement and adding bedrooms can add significant value, especially if your local market places a premium on additional living space.

The auctions, although online now, are live foreclosure auctions, i.e. the auction style sale which is the culmination of the foreclosure process. 

It was the best solution but it did cost extra. 

We live in San Diego so would be long-distance, TBD if we self-manage or enlist a PM. 

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

Hi I had my property manager handle my renovation on a unit in Maine while I am living in Connecticut.

This designation doesn’t cost extra or give the manager access to insurance payouts but ensures you and the property manager are aligned during incidents, such as tenant lawsuits or insurance claims.

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.

You could bring less down and possibly have a lower interest rate since you will be living there.