Happy to give you a quick background about the market.The median home price in the MSA is about $350,000, but you can find plenty of rent-ready properties in suburbs north of the Tennessee River for under $250,000 or under.

I would like to rent my house  to a Group Home.

If you are going to get a DSCR loan, you cannot live in the home, end of story.There's plenty of qualified LO's around here who's job it is to find the best product for you.

If that makes home buying affordable without putting you in a pinch financially, go for it.

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 @John Clark: Did you check for houses on the auction list,  or you can check with banks and look for REOs and convert that into a single family home and house hack or turn it into a Airbnb. 

Sellers can feel your energy—let them see your passion for finding the best solution for their situation.Have Empathy: Selling a home can be emotional.

Considering most homes will not cash flow with 20% or less down, plan on 20% and most likely 25% down required - depending on the cash flow expectations. 

I use this exact strategy of keeping my previous homes as rentals and trust me it’s a winning strategy.

Check out investor lift, there are sometimes good deals on there, but make sure you vet the area and try to get a due diligence period on your offer, a lot of the times you can trust their ARV or their take on the condition of the home.