Personally when buying rentals I tend to buy in neighborhoods that I feel like I wouldn't personally mind living in and when I look for tenants I try to look for people that not only pass my screening but also I personally don't dislike.  

Remember, if you sell it, you'll have capital gains that you will have to pay since you are buying the other property before you sell you're old house.

The Retainer Fee is credited towards whatever they buy from us in the 90 days, so in effect, costs them nothing.Note: we're not doing this to make money, but to avoid the time-wasters.

KwanzaHi Kwanza, I can help answer this question as I've worked with investors and helped them buy LTRs, MTRs, and STRs (own quite a few myself as well).

Why not just buy your own mobile home park and let everyone live for free? 

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.

Purchase price: $45,000 Cash invested: $45,000 Single family buy & holdHey @Malcolm Grundy!

I think asset prices will continue to grow, areas where millennials can buy affordable real estate will be where I'm setting my sights on.  

He'll still be renting - just from you instead of others, and at all the costs to you that you have enumerated.Your son doesn't "need" to buy a house.  

The ability to see the major issues before you buy is key especially when buying dilapidated early 1900's homes.