Dwelling (Building coverage)The limit should be based on the Replacement Cost of the building (cost to rebuild withthe same kind and quality excluding the foundation)2.

This excludes property taxes.

As of Pari, 8,764 census tracts have been so designated.[9]An investor must invest in an Opportunity Fund by the end of 2019 to meet the seven-year holding period and be able to exclude 15% of the deferred capital gain.[7] An investor may exclude 10% of the deferred capital gain by investing in an Opportunity Fund by the end of 2021 to meet the five-year holding period.[7]An investor who realizes certain capital gain income may reinvest the capital gain in an Opportunity Fund within 180 days.[7]Prior to the law creating Opportunity Zones, an investor could defer capital gains taxes by trading one asset with another asset in the same asset class by using a Section 1031 exchange.[1][10] Opportunity Zones now allow an investor to defer capital gains taxes by trading one asset with another asset in a different asset class.[1][10]

As stated and straight from IRS.gov, "If you have a capital gain from the sale of your main home, you may qualify to exclude up to $250,000 of that gain from your income, or up to $500,000 of that gain if you file a joint return with your spouse.

@Andrew PettitReinvesting your dividends still requires the dividends to be reported aslong as it is not held in a retirement account.Earnings in a retirement account are either deferred(traditional) or excluded(roth).

This excludes closing costs, future repairs, etc., but you get the idea. 

The seller could exclude the SCBN and then do a 1031 Exchange with the cash only. 

Not someone who picked up the phone and said, "Sure, I work with OOS Investors all the time."............Oh yeah, "Tell me about the last 3 people excluding family members you helped that were from out of state and what did they buy?"

Looking at a few deals that are complete tear downs in the northeast and I am curious what everyone is figuring for square foot costs on a new single family home excluding acquisitions? 

We are maxed at 10, but would be at 9 if personal residence didn't count.RandyLimits on the Number of Financed PropertiesThe following table describes the limits that apply to the number of financed properties a borrower may have.Subject Property OccupancyTransactionMaximum Number of Financed PropertiesPrincipal residenceTransactions other than HomeReady loansNo limitPrincipal residenceHomeReady loansDU and manually underwritten - 2Second homeInvestment propertyAllDU - 10, Manually underwritten - 6The number of financed properties calculation includes:the number of one- to four-unit residential properties where the borrower is personally obligated on the mortgage(s), even if the monthly housing expense is excluded from the borrower’s DTI in accordance with B3-6-05, Monthly Debt Obligationsthe total number of properties financed, not to the number of mortgages on the property or the number of mortgages sold to Fannie Mae (a multiple unit property counts as one property, such as a two-unit);the borrower’s principal residence if it is financed; andthe cumulative total for all borrowers (though jointly financed properties are only counted once).