@Aline Elad You said "we" so assuming you're married you can exclude up to $500k, or $250k single, in capitals gains if you lived in the property for 2/5 prior years. 

That limit could vary greatly from policy to policy and many policies will exclude mold altogether even if caused by a covered loss.  

You should know the rules inside out or be working with the professionals that know it.Incorrect moves can result in not only a taxable event to you but to your investors.Based on your most recent response, i do not think you have a good understanding of1) requirements of the QOF(You may need to substantially improve a property)2) How long you need to hold a property before it can be sold to exclude the gain3) Inside basis vs outside basisBest of luck

Again, the coverage is for the structure excluding the foundation and land.   

Just make sure you read over the policy on the last two options and make sure short-term rentals are not excluded.

I’m trying to meet the 500 hour test which I should be able to hit by the end of year even excluding the travel  time.

Mostly because it's set up to exclude things like mortgage principal payments and generally how it deals with capital expenses and deprecation. 

I just don't want to exclude people who don't have a Facebook account..

If the house were minimally livable based on other prices of houses in the neighborhood, excluding the extra land what do you think the house is worth if you had to sell it?

I believe that successfully navigating this initial investment will pave the way for future opportunities, whether in the same market or elsewhere.Living in New York City, I faced a challenging market ;)I chose Montgomery, Alabama.Here's my process:I compiled a list of states with favorable landlord laws.Using Brightinvestor, I identified cities within those states where the median home price falls below the national average ($420k).I excluded cities with negative income growth and rising unemployment rates.I focused on cities with strong appreciation rates over the past five years (over 10%).I compared price-to-rent ratios.I did break two rules: Montgomery has a slight decline in population, and its largest employers are an Air Force base and government agencies.One significant factor that influenced my decision was the promising price-to-rent ratio, suggesting potential for positive cash flow (though I remain cautious about appreciation).Regarding my acquisition strategy:I plan to employ the BRRR method with cash.