You will be living in someone else's house.

I live in LA, and have a rental here as well.

My son currently lives in the townhouse b/c he is going to school and works in the area.Since he is young and starting out in life, I would like for him to only cover the basic costs (taxes, HOA, utilities) just enough for me to break even (I believe that will put him slightly little lower than market rent rates). 

You can't rent out a PO box and live there.And yea that sounds like a huge red flag to me. 

Even if the rental has a decent cash flow with additional flood insurance, we're still not sure we want to take on that risk as we are out-of-state investors (planning to move back to KY in the future, but not now) and we don't like that it will potentially bring down the perceived value when we try to sell it in the future.The seller has never lived there and has not provided any information on if it has flooded before or not. 

Their view is that an arcade game is cool for 10 minutes, but a PS5 is something that they would enjoy for their entire stay. 

Living in a camper van for 3 years while working remotely is impressive — that kind of adaptability definitely carries over to real estate.

Another key benefit is diversification; an SDIRA allows you to include real estate in your portfolio, reducing risk by spreading your investments across different asset types, which isn’t possible with a standard IRA.Moreover, assets in an SDIRA often enjoy protection from creditors, adding a layer of security to your investments.

If you are comfortable living with roommates, a SFH househack could be the move for you.

My plan is to sell my primary home in New York and purchase a house to live in South Carolina.