I rented out the additional bedrooms to friends and family, charging them well below market, and sold when it was time for my wife and I to start our own adventures.

Additionally if you find this post helpful please give it a vote on the right hand side of this post.

Have you worked on any entitlements yet, or are you exploring both options?

It might also be worth exploring creative financing to leverage that quarter million into even bigger opportunities. 

In addition to this, I've had 2 clients this past year tell me they used Airdna in '22 and '23 to see projected and estimated income and was drastically different than actual income made with very comparable properties. 

Yes, I’ll check with regional building, but curious for additional thoughts here.

I rented out the additional bedrooms to friends and family, charging them well below market, and sold when it was time for my wife and I to start our own adventures.

In addition to PH I believe he also checks chlorine level, salt level and total dissolved solids. 

In addition, while the umbrella did not end up having to pay out, having it meant I did not stress about it at all.  

You'll want to explore this with your accountant and see what side of the fence they are.What is more a concern to me is your plan to let the property sit for a couple of years and then move in.