I currently live in Tennessee and I have a possible opportunity to in move to the state of New York for a two-year work-related contract come the summertime.

Simply gifting him half the property now wouldn’t immediately allow him to claim the exclusion without fulfilling this residency requirement, I don't believe.One thought would be to use a HELOC to pull just enough equity out of the current home and use it to buy a smaller home, or at least the down payment.

Quote from @Kash Tacke: Hi,I have two single family houses in Detroit currently rented out. 

What's the ARV and current monthly rent on the property?

This is the current link I log into: https://bidonhomes.com/notes/l... 

- The property is probably NOT as profitable as you think it is.More reality for you - how are you going to cashflow enough from leveraged rentals to replace your current income?

Since my current strategy is BRRRR, I'm looking for a location where I can implement it successfully within my budget.I’d prefer to target the best neighborhoods or subdivisions I can afford, ideally with favorable eviction laws and other key factors.That said, I started wondering if there might be a better strategy to achieve my goals.

We currently live in CA, but are moving to Illinois in the coming months - so this will be our state of residence soon.

As Vince said it is a quick guideline and won't work in most places with current interest rates and house prices. 

Foreign citizen currently living in Miami.Any recommendations in general?