I do plan on some reno before relisting the property.  

This is what I plan on doing. 

In a Dutch repayment plan, the borrower pays a monthly interest only payment based on the loan amount that they agreed to borrow.

What are you planning to build there?

The plan is to hold the property for long term.

I am planning to excavate my project site at 1893 N US Highway 1, Fort Pierce, Florida, and I require approximately 45,000 cubic yards of fill material.

also you look at the comp plan  comprehensive zoning plan.  

I plan on rehabbing the entire property to BRRRR or flip it.

From my research, the only gray area would be whether or not the tenant continues to plan to reside there / has ended their residency or not?

This would allow you to eventually plan strategically to move into the new house and convert your current primary into an investment property... to then 1031 into your next project(s).