What people find appealing about Bitcoin, is what made it run afoul of the post-recession and post-9/11 PATRIOT Act anti money laundering stuff.This is a direct quote from the FHA Customer Service team at the Department of Housing and Urban Development, again for an FHA loan.I am sorry, without a traditional bank statement, we could not verify the Bitcoin funds came from an acceptable source and was not provided as a loan by an unauthorized party to the transaction.

I have experience in single family fix and flip, 1-4 family rentals, small apartments (10-30 unit), 100+ unit apartments, development, commercial retail, industrial and office.

With the above said then develop a scaling model.  

That is why land development as an example for multi-family carries extreme risk.

With this data, develop your own lead gen system that works.

However, that being said, it's just as important to make your flips and developments stand out from the crowd!

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. 

In 2016, we returned to KC and purchased our primary home in Liberty using a Doctor’s loan.In 2020, we developed a strong interest in real estate investing.

Buying turnkey rentals, you are generally paying more and allowing the provider to capture the profit from developing the property.

Over time, we’ve developed a strong relationship with the Housing Authority across various neighborhoods and ZIP codes.