Denise,
It did not go well for our Difficult Child, yet I cannot help but think that a new environment often does bode well. As you mentioned, with no money, no plan can = UGH. Difficult Child moved 1500 mi away and seemed to do well for a few months. We lost contact and learned later that his life went south (again). Difficult Child moved back to his home state for a couple years, then returned to the other state...AGAIN. This time with a girlfriend and that "seemed" to be okay for a couple years. Again, it ended badly. While I am using the word "again" very often, I understand it is part of Difficult Child's.
Still, I think a new place, IF they really want a new start, can be a very good thing. The last thing I want you to do is worry. New place, new start--if they want a real change--sounds good to me! Heck, I could use a new place, new start! : )
Please keep us posted. We are all rallying for you and your son. 
SS