Opportunity Zone Steps

[Michael Bryant]

Help! I think I missed the boat. Just listened to Bigger Pockets Podcast - Investing "Cheat Code" of Opportunity Zone Rentals. Great listen, a little confusing. 

So my stepdad just bought a property (cash) for us that was a great deal in an Opportunity Zone. We are planning setting up an LLC and taking a commercial mortgage out on it. My question is, how do we get the OZ benefits during this phase of the process? He just closed on it last week and I'm in the beginning steps of setting up an LLC for us.

Side note - I also just realized I bought my house in a OZ and we now have a STR in the apartment onsite....

Thanks in advance!