I can withstand their nonsense, I know I'm setting mine up with a fundamental belief in things are earned, patience,  and everything in between. 

Something like HVAC that would have the standard residential life of 27.5 years would not be eligible.  

The "old way" (fundamentals) never go out of style.

Ryan I have to first correct a major fundamental flaw in your analysis, and conversation of things. 

I've progressed from owning fixer upper duplexes in the north end of Winnipeg where I would do the renos myself late into the night; to purchasing large apartment buildings to acquiring properties in 13 different cities across Canada and the United States. to now buying office buildings and institutional-grade grocery-anchored retail centers leased to national tenants and publicly traded companies like Walmart, Safeway, and Loblaws.Before 27, I achieved lean FIRE, all thanks to the inspiration and fundamental concepts from the BP podcast and the incredible people I've met along the way in this entrepreneurial journey by betting on myself, committing to lifelong learning, and nurturing an insatiable curiosity.If someone like me, who barely made it through high school and would be considered "unlikely to succeed" by my peers, can do it, so can anyone reading this.

You may also be eligible for state tax credits based on state, filing type, etc.

Some things may be different, such as the occasional leasehold condo and coastal issues, but the rest is just the fundamentals -- marketing, financing, rehabbing, etc.

I would recommend you find the exact wording that makes the existing home not eligible to STR.  

My question is, does the fact that we rented the home exclude us from being eligible on not paying taxes on the first $500k proceeds from selling after two years?

What is your fundamental desire when selling?