For those curious, if this applies to them, just follow these general principals: To qualify for the Section 121 exclusion you must: Must live in the home in the past 2 of the 5 years 24 months non consecutive required Must have owned the home for at least 2 years Only one spouse needs to meet the ownership testBoth spouses need to meet the use test Neither spouse has excluded a gain / used section 121 in the past two years Must file jointly for the 500k exclusion

I understand that you are attracted to the Denver and Boulder area and I would be curious to know if you have planned for the additional costs of living in these areas including the large(r) mortgage payment you may be taking on when financing 95% of the purchase price?

They are leased out.It is zoned R-2 which allows for Multifamily which is defined broadly in the Definitions sections of the General Plan as "Dwelling, Multi-Family - A building containing three (3) or more dwelling units.

Quote from @Greg R.: Yes they're inquiries, not reservation requests.

Although the document attempts to define a broad distribution of situations, it is open to interpretation.Here are the basics for all residential STR....r's?

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Quote from @Kaushik R.: The Landlord insurance policy quotes I am receiving has a high deductible for Wind/Hail/Named Storm coverage which effectively means replacing the roof would be out of pocket for me which defeats the purpose of carrying this insurance.

Quote from @Justin R.: I was living in the Los Angeles area as well when I started my "Out of State" investment journey.

@Justin R. did a higher end mobile home flip in San Diego quite a few years ago (6 years ago?).  

So the use of that property will appear on two consecutive tax returns.