I didn't know about the exemption.

But concerned about the homestead exemption....

Yes, the LLC is pass-through but by living in a property as a primary residence owned by the LLC they won't be able to claim a homestead property tax exemption if they are offered there.

And fun fact, most states exempt groceries from sales tax, (again, actual groceries that are whole food, and not processed).

The good news is, if it's your primary residence and you've lived there for at least 2 of the last 5 years, you might be exempt from this tax up to a certain limit.

This definitely has revenue potential.The property also has other structures of value and amenities but these would not be part of the business described below.We will be able to add additional guest cabins and possibly our (retirement) home in the future.This is a rural area and about half of the property is AG-Exempt.

However, the specific details can depend on various factors, including the type of asset, how long it was held, and any applicable tax exemptions.

Would the exemption for selling primary home apply in this situation?

Keep renting it out and deal with the tax implications, move back in and aim for that tax break on selling later, or sell and possibly pay capital gains tax if he doesn't meet the criteria for the exemption.

It might require a security exemption, however, which is something you should check with your attorney.If legal in your state, you can fractionalize your loans -- also called a multi-beneficiary loan.