Focus on saving $, building your credit and getting steady work.

As others have said, the best thing your son can do is run far from this deal, buckle down, save his pennies (he probably already is doing this), house-hack, and improve a property with sweat, hard work, developing a DIY skillset, and self-managing tenants. 

Yes  I think the best move here is to asses your total monthly debt and see if a cash out refi will help decrease the total interest and monthly debt obligation.

Choosing an STR-friendly area can save you significant hassle and protect your investment in the long run.

I enjoy helping Bigger Pockets members save time and money.Thanks Jay, I may get in touch!

If they only make $2000 and know their income has to be $3000 or higher to qualify, they can apply elsewhere and save the $30 application fee.

Even if you do find such a deal, getting it to cash flow after repairs and a cash-out refinance is extremely difficult, especially for single-family homes.

Save your money.

I have $25K cash for a down payment and can add $20K/year ($1,600/month) toward payments.No W2s, I've looked into building a small home right away and using a bank statements loan (have about 8800. monthly income) , but with 9%+ interest rates, it’s beyond my budget.Is there any sort of creative financing ideas possible or private lender possibilities?

Occasionally there is some decent Savings in those relationships as well.