They have become even more popular recently so here are some of the most common questions that I get asked regarding opportunity zones.What is a Qualified Opportunity Zone (QOZ)?

Never had a problem with mine at my personal residence then again I'm sure tenants run it hard. 

Marie Johnson That has to be bought by a qualified non profit organization, and is only allowed by certain investors/lenders.

Borrowers in certain states or with high credit scores may qualify for  80% cash-out , but it’s important to weigh the pros and cons.

I am moving out of a home that was my primary residence, and it is becoming a rental. the mortgage is currently in my name. 

If the residence is inside a gated subdivision or a controlled-access buildingthat is governed by an owner’s association, a letter from the association acknowledging the use and grantingaccess to occupants of the rental unit will be required as part of the application.A short-term residential rental requires a Conditional Use Verification (CUV).A short-term rental use is unavailable and prohibited within a residential unit or a room within a residentialunit that is located in an apartment building.

Sponsor quality far surpasses the "deal", assuming a qualifying criteria for a "good sponsor" is that they don't buy crappy real estate deals to begin with.Having said that, if a great sponsor is offering a deal you don't like for some reason, don't invest in it--just wait for the next one. 

In 2017 we started our journey with long-term buy-and-hold investment properties in the Memphis, TN area after selling a property that we were losing money on every month in NOVA that we purchased as a primary residence in Jan 2007 (talk about all-time bad timing) and then had to move with the Navy in 2009 (2nd all-time worst timing).

However if you are attempting to use rental income for your departing residence that's where it will be a little tricky... 

This means that you will probably need to pay registration and filing fees in at least 2 states if you don’t buy CA property as a CA resident.Be sure to tell your accountant that you may now need to file non-resident income tax returns in each state where you own property as well.