What qualifies as a Qualified opportunity zone business property

[Gaurav Mehta]

Hi,

I am going through Form 8996 required to be filed for a corporation to be considered for Opportunity Zone. I have a few questions on what it means for a property to be a "Qualified opportunity zone business property"

Below is what the IRS Form states

"

Qualified opportunity zone business property is tangible property that a QOF acquires after 2017 and uses in a trade or business and that satisfies both of the following tests.

1. The use of the property in the qualified opportunity zone originates with the QOF, or the QOF substantially improves the property.
2. During substantially all of the QOF's holding period for such property, substantially all of the use of such property was in a qualified opportunity zone.

To satisfy the test in (1) above, the QOF substantially improves property if, during any 30-month period beginning after the date of the acquisition of such property, additions to basis with respect to such property in the hands of the QOF are more than an amount equal to the adjusted basis of such property at the beginning of such 30-month period in the hands of the QOF.

"

Questions

1. What does "The use of the property in the qualified opportunity zone originates with the QOF" in 1 mean?
2. Also, can someone please help explain what the paragraph after #2 from above mean. What does it require to satisfy the test in #1
3. Finally what does the #2 above really mean. Totally lost on that.