Opportunity Zones - Rehabbing and other ways to qualify

[Joanna Golden]

Hello Friends, I am selling a property and will likely see a capital gain of about 75K-100K. I am really interested in OZ property and want to start "shopping" except I am hesitant about the construction part, as I am inexperienced in that arena. My expertise is in finding the deal but I have typically steered away from heavy rehabs. I was trying to get creative - in one webinar, I heard that a building that has been vacant for 5 years could qualify. I also read that if you buy a building where construction has started but not finished, and you finish it, then would qualify. I wonder if I could buy the land and purchase a prefab/modular home to plop on there, I wonder if that would be considered "new" construction on that land. Any other ideas to help open my pool of inventory to do an OZ purchase besides building something completely new??

A note: It's very hard to get information on this subject in detail for the small investor like me who just wants to buy my first rental in an OZ and do it correctly, so if anyone has any places they have found that were more in-depth or any learning opportunities, please let me know!