Opportunity ZONE HELP!!!!!

[Jessica Kirkpatrick]

Hello, 

I need some help understanding the new tax laws. 

My client wants to sell his 5+ unit for $600K and buy a house w studio for his art business with proceeds. Right now he'd have to pay $120K in capital gains (20%). Of course he's looking at ways to avoid this. He doesn't want to do the 1031 exchange - he's cashing out and buying investing in his family. Though he did mention opp. zone. There are opp. zone, but before I start searching in those areas to buy, I'm confused or need clarification on the following:

1. can he sell a multi-family and buy residential/ mix-use in opp. zone to take advantage of opp. zone.

2. if he held onto for 10+ yrs, what capital gains would he have to pay?

Additionally, it's my understanding, there is a lot of uncertainity with this program, so the tax benefit shouldn't be the primary driver. 

Any other comments would be appreciated! 

Thanks!