We have a meet up scheduled soon for our local investors. 

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.

It might be best to simply go to a local REIA networking event and meet some wholesalers that have been doing this for 15 years and buy a deal from them.

Listing your property there ensures visibility.Build Relationships: When agents reach out, respond quickly, highlight your property’s amenities, and showcase your flexibility to meet displaced families’ needs.Highlight Insurance-Friendly Features: Emphasize features like flexible lease terms, utilities included, and a fully furnished setup to attract insurance placements.This approach has helped me successfully market to insurance companies.

Certainly partnering with companies that have consistent replacement properties available makes sense if the properties meet your investment guidelines.  

View cash flow as necessary to cover expenditures and meet debt coverage ratios in order to obtain favorable financing, do not view cash flow as a vehicle to cover future down payments. 

Hopefully, not an expensive tenant or Fair Housing lawsuit.100% of what @Travis Biziorek states is true, but he left out a key fact - he lived in the Detroit area when he started investing here, so was able to self-manage and meet everyone he had to hire face-to-face.

You can meet local investors by registering to attend real estate events in your area: https://www.biggerpockets.com/forums/521-events-and-happenings6.

I'm connected with a group in Indianapolis that meets monthly. 

Interest always paid on time, and principal was returned with bonus right on schedule.