Most likely due to wanting to invest his time more wisely:)If you can move in with family or friends RIGHT NOW and rent out your house and start DIY managing it BEFORE moving out of state, that would be best.Otherwise, handymen, cleaners, agents, etc. are highly likely to take advantage of you once they find you you live OOS.

Selling at FMV avoids the gift tax but provides your child with a higher tax basis, reducing their future capital gains liability.A better strategy for selling below FMV is to sell the house at FMV on an installment note, then forgive interest and principal annually up to the gift tax exclusion amount.

No state taxes, high appreciation, Economic and Job growth, Population growth, etc. 

That is in the contract as a deterrent to prevent an owner from using our services to find a high-quality resident and then moving the management, thereby hurting our reputation with the residential community. 

The seller is highly motivated to sell and has already knocked their price down 6% since listing it 4 months ago.

While you certainly can (subject to the contribution limits), your ability to make deductible contributions to an IRA is limited if your AGI is too high.

The house includes high-end upgrades such as custom cabinetry, granite countertops and energy efficient appliances.

High interest rates are deal killers IMHO.

We certainly have found some deals that would reduce our living expenses compared to renting.

@Will Almand A cost segregation (cost seg) study can accelerate depreciation on your properties, reducing taxable income by reclassifying components (e.g., appliances, HVAC) into shorter-lived categories.