As my avg rental period is <8 days, and I have <14 days personal use at the property and believe I can meet the material participation test, this should be a non-passive activity.Specific Questions on Material Participation:1) Do hours logged for material participation in 2022 include time prior to placing the property in service (i.e. first half of 2022)?

Half of it is already finished for the first floor.

I spent 10 years in remodeling, the latter half of that doing buy-hold rehabs.

I could not find this specific question looking through the first half dozen pages of results when I searched in this forum for this question. 

We are excited about the news for phase II of Lee + White (among some other coffee shops and restaurants coming to the area) and the Microsoft campus coming to the upper west side, just 3 miles away.

I live 1200 miles away in FL and do a lot of biz there. 

It is also the cheapest beach property in the US for hundreds of miles.  

I would get the FHA loan in my name and my wife and I spoke and I will live in the other home (most of the homes we're seeing are about 35-40 miles away from our current home so I won't be too far that I'm absent from my family) but I don't want my family to have to move out of our current home.

Pretty hard for us to give you an ARV from 1000 miles away - your specific local area will be what drives the ARV. 

Half of Income = NOI: This one is very common in multifamily.