You can also contact a local alcoholics anonymous or other organizations and let them know you have space available for anyone living sober.

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

Have a client that does sober living homes here in B/CS.

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). 

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. 

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

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

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

I closed for both sides and had a chase them round for final signatures.Also might I add the property could be falling down, you basically have to send your staff out to take pictures and videos to send to them to get them to even budge on any price.These homes they have have been sitting a long long time and most cases they are on the city’s list of zombie homes and ready to be demolished, you won’t find that out with no title search and survey, you find that out the day your workers show up to work ready to get this thing back to livable to be met with more money spending ventures.Bottom line.

Based on your question, you have two core decisions to make, and they may conflict with one another - where do you want to live, and where do you want to invest?