I am exploring options - sell his place, use is as a rental or take some equity out if it to purchase another property (I was thinking maybe a short term rental on the lake)?

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.

I understand it was (allegedly) caused by a kid, but parents must take responsibility for their children's actions.

Next Steps: Find lenders, network for private money, explore seller financing, and set up gap funding.

I have been listening to the podcasts for a while but have just started exploring the website.

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.

And do you have a specific area in mind, or are you still exploring?

This vary heavily town to town. 20% down is great if buying strictly as investment but if you have a way of owner occupying I would explore that route and apply the 20% down to increasing value of property and instead using low money down loan. 

Additionally, timing the sale in a lower-income year or exploring potential deductions could further reduce your tax liability.

They are almost certainly responsible for issues caused by abnormal use or abuse, such as a kid sinking his battleship into the toilet.