So, I eventually sold for cash to an investor who moved the home I was selling out of the park and onto their piece of land. 

We have ambitions to eventually turn the detached garage into a 1/1.

Eventually the inflation and high rates is going to have ramifications.Note this is not in every location nationwide, as some pockets are more resistant and some are less resistant.

. ;-)There are plenty of better opportunities to chase pre-foreclosures elsewhere and there eventually will be a lot more, in better places.

You’ll get the benefits of all the write offs from your rehab eventually.

A bank will eventually just say "no." 

Also chat with a commercial lender as most investors eventually outgrow conventional financing at some point. 

The Fed will eventually allow interest rates to fall, and all that extra interest showing up in your payment calculations will shift back into the profit column (where it usually hangs out).  

When the son eventually sells the house, does he have to wait 2 years starting from May or November to get the 250k primary residence capital gains exclusion?

So you will break even but eventually (after 30 years) will have a fully paid off house.