In the link you posted it says that "Opportunity Zone Investors must spend at least "Z" dollars improving the property. 

@Tracy Z.

@Karim Z.

If you want to put in an amusement park, you have to make sure the increase traffic can be handled.P&Z confirmed the zoning.

These areas, designated by a new “z” Constrained Sites overlay zone, will retain existing regulations for corner duplexes or one accessory dwelling unit with a house.Lots that do not meet minimum lot sizes for three or four units (R2.5 = 3,200 sq ft; R5 = 4,500 sq ft; R7 = 5,000 sq ft)Infrastructure constraints, including lack of paved streets, sewer or water service.Increase the allowed size (FAR) for duplexes and triplexes (no increase for a fourplex).

Looking to see if there are any examples where a large single story commercial property in a downtown was replatted to allow for the sale of townhouses rather than creating a condominium structure. looking to turn it into 11 market rate lofts for sale. would like to find some precedence prior to going to local P&Z. easements would be recorded and common spaces would be maintained by a member HOA.

@Cody Z.

IE same here.To get a taste of buy and hold helps, go to my profile, 1st paragraph I've linked a paper I give talks on, how to buy a bullet proof rental portfolio.Fast start has a Flipping bent, but covers A-Z.   

@Matt Michaelson, @Mike Flora, @Russell BrazilI requested a letter from our insurance agent, and basically they stated, "we insure properties located at X,Y,Z, and to the best of our knowledge, they are owned free and clear." 

Originally posted by @Cody Z.: As others have said, get a CPA involved.