I live in San Diego and am trying to purchase my first investment property I have about 150K to put down but am struggling to find deals that meet my price point. 

Quote from @Jemini Leckie: Hello, I am trying to understand the Orem, city code to determine if I am allowed to rent my basement ADU that I currently live in two a couple cousins and their friend.

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.

I am new to real estate investing and got into it because of the book The House Hacking Strategy.I live in San Diego; the rent is just crazy.

Where are you living at this point?

I am interested in buying a long-term turnkey property in a nice area (I live in San Diego so this property would have to be out of state).

I am putting in a link to something that may be help, a cost of living comparison calculator (https://www.bankrate.com/real-estate/cost-of-living-calculat...). 

I have lived in the US for about 10 years. 

Unless you have the rentals paid for by the time you retire, they aren't going to be enough to live off of. 

One caveat to this strategy is that you can’t live in a property that your IRA owns, nor can you rent it out to anyone else who may be considered a disqualified person like your spouse or child.Feel free to connect with me and send me a direct message if you want to learn more!