Windows would be my next check-point (less than R1) and then wall insulation: I would not be surprised if they have no insulation inside, but you can do blow-in, which only requires a small hole.A home looses heat in two ways: heat conduction (which you can slow down with insulation) and drafts, which in old houses is usually the biggest culprit.

Already, it's pushed out-of-town investors to focus on student housing where GC has less of an impact.

Their advantages include house hacking which includes better finance options and hustle.My last purchase was so large cash negative that the rents were $3k less than PITI.  

The house looked like it hadn’t been loved since 2004 (its build year).

So assuming your son has low debt, then he should be able to qualify for a house in the low $300K range. 

We took the highest month of "normal" winter usage we had records on -- people in the house, heat running at a reasonable temperature, washer/dryer running, etc.  

@Jaxin Piercestart with a house hack."

Recently Trump has announced the nomination of Scott Turner to be the new Secretary of the Dept of Housing and Urban Development, HUD.

Charlie,I am very interested in using my HELOC to pay off my house.

There are a few Niche investment types like section 8, assisted living, sober houses, etc.