Looking to create a QOF and facilitate investing in an OZ

[Ryan Ogletree]

How's it going, BP? I'm looking into starting a QOF and am trying to get in touch with someone who has already created one with the intend to sell shares to investors. I have a new list of questions everyday, but here's a few that came up today:

1. The shares are considered securities, correct? What licensing is required to sell them?

2. It seems to make the most sense to me that the QOF would be a Series LLC if there will be multiple properties and multiple owners. Am I on the right track here?

3. How complicated is the operating agreement? I want to have exit strategies but also incentives for going the full ten years.

I know this is very niche and nuanced, so please provide whatever experience/info you have! Thanks!