How long does it typically take to dry (for small holes around the size of nails)

Thank you for posting your inquiry. One application is usually sufficient for small repairs. For repairs deeper than 1/8”, apply two or more layers allowing spackling to dry between applications. Spackling will change color to white when surface can accept a second application or is ready to be painted or sanded (typically 1 to 5 hours, depending on temperature, humidity and depth of fill). Should you have any questions or require further assistance, please contact DAP’s Technical Customer Service Department at 888-327-8477.

The product set time is 1-4 hours. Goes on pink and dries white when it’s time to sand and paint.