This will help you understand the qualifying requirements, key factors to consider when purchasing, and how to assess whether a property might be a good investment at first glance.

For the son to qualify for the $250k exclusion, I believe he would most likely need to meet the ownership and use test, meaning he needs to own and live in the home as his primary residence for at least two of the last five years before the sale.

House hacking can work with an FHA loan, as rental income from other units might help you qualify, but be sure to consult with a lender or mortgage broker to explore flexible options based on your unique situation.Good luck!

Definitely get with a qualified tax professional on this.

I've received apps in the past where this was the exact situation only for the borrower to not qualify and be stuck. 

This is due to bonus depreciation which allows taxpayers to deduct 40% of qualifying property costs in the first year, in addition to regular depreciation for new construction and improvement.

@Grace Chee The process for this is time sensitive, you should have gotten a TRIM notice around late August, early September.

Here's what you need to know about qualifying and managing costs, including realtor fees and other expenses.Why Germany?

If you're considering house hacking a multi family property, some lenders might be able to factor in potential rental income to help you qualify.

Under this rule, if you spend at least 100 hours on the property and no one else exceeds your time spent, you can qualify as materially participating.