As long as you're filing jointly, both meeting the 2 yr use test, and either meeting the ownership test, then the full $500k can be claimed. 

My timeline so far has been:End of Oct 2022 - Permits ApprovedJan 2023 - Lot ScrapedMarch 2023 - Fill dirt brought onto lot, compaction tests in progress. 

This is why seasoned investors run a "stress test" when evaluating their investments.

I also wonder if this unconventional STR would pass the criteria for the STR test for tax purposes.

for water stuff - if it is not raining based on ur experience how else one can test that?

Listings also tend to tick up in the offseason as investor owners look to test the market. 

Look forward to the discussion.https://www.biggerpockets.com/forums/51/topics/1222774-expla...https://www.biggerpockets.com/forums/51/topics/792277-how-to-test-your-cpas-technical-competencehttps://www.biggerpockets.com/forums/51/topics/795929-questions-to-ask-a-potential-accountant

The challenge with the FHA guidelines is the self sufficiency test.

My main goals with these initial projects are:1.Gaining valuable insights into the local market.2.Getting hands-on experience with out-of-state investing, particularly when it comes to remodels and managing from afar.3.Testing the entire BRRRR process to see if it’s the right strategy for me long-term.If all goes well, I’d love to scale up and explore multi-family projects.

I gave it the Nickproof tug and it passed the test.