Son might have a hard time getting a good loan without significant credit history or several years of good income tax returns. Unless he plans to pay all cash for the home.
I think the bigger concern for me, especially with the younger generation, is the amount of diligence and maintenance required. You have to be prepared to fix things at any moment and spending weekends with projects. I know my D is not prepared for the amount of time and effort it takes to maintain the investment. The value of a home can go down quickly with significant “deferred maintenance”.