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.

Just bought 3 houses last week from a builder. 

I signed up last year and I'm just now started to take my investment plan seriously. 

Quote from @Kelly Giarrocco: I bought a vacant property on Sherriff sale last year on the ********** site.1.

We are Canadian from Ontario and  have been investing in the US for the last 7 years.

As far as your primary residence, if you have lived in it 2 out of the last 5 years, you should not have to pay taxes on capital gains (difference between what you paid for it & what you sold it for) up to $250,000 if you file your taxes as an individual and $500,000 if you file jointly with a spouse.Just a disclaimer, I am not a tax professional.

My grandmother is the last tenant in a string of their abandoned properties.I don't want to be stuck with trying to figure how to dispose or move the trailer.

I just moved a kid out last month after just five months in the rental because he was problematic.

VERY unlikely unless you either source an off-market property yourself or you find a unicorn deal (our last semi-BRRRR was a B-neighborhood property we sourced from an out of town wholesaler in late 2023, but couldn't get all our capital back out on refi).  

Last piece of advice is to surround yourself with quality service providers (real estate brokers, lenders, accountants, attorneys, PM's, Contractors, Insurance Brokers)., They will be instrumental to your business.